2,826 Ciena Corporation $CIEN Shares Sold by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. cut its holdings in Ciena Corporation (NYSE:CIEN) by 71.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,144 shares of the communications equipment provider’s stock after selling 2,826 shares during the period. Hanseatic Management Services Inc.’s holdings in Ciena were worth $402,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TKG Advisors LLC purchased a new position in Ciena during the first quarter worth $3,244,000. Swiss National Bank lifted its holdings in shares of Ciena by 7.0% in the 1st quarter. Swiss National Bank now owns 413,332 shares of the communications equipment provider’s stock worth $160,468,000 after acquiring an additional 26,900 shares during the last quarter. Wealth High Governance Capital Ltda purchased a new position in shares of Ciena during the 1st quarter worth about $10,883,000. Fifth Third Bancorp boosted its stake in shares of Ciena by 983.2% during the 1st quarter. Fifth Third Bancorp now owns 17,168 shares of the communications equipment provider’s stock worth $6,665,000 after purchasing an additional 15,583 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in Ciena by 126.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 8,413 shares of the communications equipment provider’s stock valued at $1,968,000 after purchasing an additional 4,691 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CIEN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Ciena from a “hold” rating to a “buy” rating in a research note on Sunday. CL King set a $347.00 price objective on Ciena in a research report on Friday, September 4th. Zacks Research raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. decreased their price objective on shares of Ciena from $635.00 to $605.00 and set an “overweight” rating for the company in a research report on Friday, September 4th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $600.00 target price (up from $530.00) on shares of Ciena in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $485.93.

Insider Activity

In other Ciena news, EVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $344.08, for a total transaction of $412,896.00. Following the completion of the sale, the executive vice president directly owned 34,073 shares in the company, valued at approximately $11,723,837.84. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Phipps sold 2,629 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $355.19, for a total transaction of $933,794.51. Following the completion of the sale, the executive vice president directly owned 57,388 shares in the company, valued at $20,383,643.72. This trade represents a 4.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 36,014 shares of company stock valued at $13,457,571. 0.58% of the stock is owned by insiders.

Ciena Stock Performance

Shares of CIEN stock opened at $363.58 on Thursday. The business has a fifty day moving average of $365.82 and a 200 day moving average of $400.93. Ciena Corporation has a 1 year low of $168.22 and a 1 year high of $637.51. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.80 and a quick ratio of 3.17. The firm has a market capitalization of $51.56 billion, a price-to-earnings ratio of 81.16, a price-to-earnings-growth ratio of 4.45 and a beta of 1.28.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.38. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Ciena had a return on equity of 25.33% and a net margin of 10.87%. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, research analysts expect that Ciena Corporation will post 6.00 earnings per share for the current year.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software, and services for communications networks. Its solutions help telecommunications carriers, cloud providers, enterprises, government organizations, and research institutions build, manage, and automate high-capacity networks.

The company’s portfolio includes optical networking systems, routing and switching platforms, network automation software, and network management tools. Ciena also offers consulting, implementation, maintenance, and professional services designed to support network planning, deployment, optimization, and ongoing operations.