Ciena Corporation $CIEN Shares Sold by Anatole Investment Management Ltd

Anatole Investment Management Ltd trimmed its position in Ciena Corporation (NYSE:CIEN) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 501,598 shares of the communications equipment provider’s stock after selling 22,090 shares during the quarter. Ciena comprises approximately 19.4% of Anatole Investment Management Ltd’s investment portfolio, making the stock its biggest holding. Anatole Investment Management Ltd’s holdings in Ciena were worth $117,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in Ciena in the fourth quarter worth approximately $2,747,810,000. JPMorgan Chase & Co. lifted its position in Ciena by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider’s stock worth $941,451,000 after purchasing an additional 1,219,787 shares during the period. State Street Corp lifted its holdings in Ciena by 17.2% in the 4th quarter. State Street Corp now owns 5,102,409 shares of the communications equipment provider’s stock valued at $1,193,300,000 after acquiring an additional 750,128 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Ciena by 53.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock valued at $947,554,000 after acquiring an additional 1,404,132 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Ciena by 10.4% in the 2nd quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock valued at $284,313,000 after acquiring an additional 329,821 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Brodie Gage sold 1,200 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $466.10, for a total value of $559,320.00. Following the completion of the sale, the senior vice president owned 42,741 shares in the company, valued at $19,921,580.10. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 22,014 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the completion of the sale, the senior vice president owned 68 shares of the company’s stock, valued at $27,866.40. The trade was a 99.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,374 shares of company stock worth $20,349,470 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

Ciena Price Performance

CIEN opened at $435.91 on Thursday. The stock has a fifty day moving average of $521.44 and a 200-day moving average of $370.05. The firm has a market capitalization of $61.70 billion, a P/E ratio of 145.30 and a beta of 1.24. Ciena Corporation has a 12-month low of $73.23 and a 12-month high of $637.51. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. Equities analysts forecast that Ciena Corporation will post 5.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CIEN shares. Northland Securities set a $450.00 price target on shares of Ciena in a report on Friday, June 5th. Stifel Nicolaus set a $615.00 price target on shares of Ciena in a report on Friday, May 29th. B. Riley Financial upped their price target on shares of Ciena from $283.00 to $531.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn started coverage on shares of Ciena in a report on Friday, May 1st. They issued a “neutral” rating and a $416.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Ciena from $405.00 to $490.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ciena has a consensus rating of “Moderate Buy” and a consensus price target of $530.56.

About Ciena

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.