AG2R LA Mondiale Gestion D Actifs Purchases New Position in Ciena Corporation $CIEN

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Ciena Corporation (NYSE:CIEN) during the 4th quarter, Holdings Channel reports. The fund purchased 5,895 shares of the communications equipment provider’s stock, valued at approximately $1,379,000.

Other hedge funds have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in Ciena during the 4th quarter worth approximately $35,000. Community Bank N.A. acquired a new stake in Ciena in the third quarter valued at $25,000. Assetmark Inc. increased its holdings in Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after purchasing an additional 67 shares during the period. Wolff Wiese Magana LLC acquired a new stake in Ciena in the fourth quarter valued at $47,000. Finally, Ameritas Advisory Services LLC increased its holdings in Ciena by 104.0% in the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 104 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ciena news, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $359.53, for a total transaction of $1,061,332.56. Following the transaction, the chief executive officer owned 293,084 shares in the company, valued at approximately $105,372,490.52. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brodie Gage sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the transaction, the senior vice president owned 46,341 shares in the company, valued at approximately $18,768,105. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 42,974 shares of company stock worth $17,418,863. Insiders own 0.58% of the company’s stock.

Ciena Stock Performance

CIEN opened at $577.50 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 2.14 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average price is $440.39 and its two-hundred day moving average price is $307.70. Ciena Corporation has a 1-year low of $70.77 and a 1-year high of $593.00. The company has a market cap of $81.66 billion, a price-to-earnings ratio of 367.83, a PEG ratio of 1.90 and a beta of 1.24.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.18. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was up 33.1% on a year-over-year basis. On average, analysts expect that Ciena Corporation will post 5.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on CIEN shares. Weiss Ratings upgraded Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. B. Riley Financial increased their price objective on Ciena from $222.00 to $283.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Evercore set a $330.00 price objective on Ciena in a report on Thursday, February 19th. Bank of America increased their price objective on Ciena from $355.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Rosenblatt Securities boosted their price target on shares of Ciena from $305.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $367.56.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.