Brodie Gage Sells 1,200 Shares of Ciena (NYSE:CIEN) Stock

Ciena Corporation (NYSE:CIEN) EVP Brodie Gage sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $324.86, for a total transaction of $389,832.00. Following the transaction, the executive vice president directly owned 37,207 shares in the company, valued at approximately $12,087,066.02. The trade was a 3.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ciena Stock Performance

CIEN stock opened at $348.46 on Friday. The company has a quick ratio of 3.17, a current ratio of 3.80 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $49.42 billion, a price-to-earnings ratio of 77.78, a P/E/G ratio of 4.78 and a beta of 1.30. Ciena Corporation has a 12 month low of $133.67 and a 12 month high of $637.51. The firm has a 50 day moving average of $381.17 and a two-hundred day moving average of $437.79.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.73 by $0.38. Ciena had a net margin of 10.87% and a return on equity of 25.33%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business posted $0.35 EPS. Ciena’s quarterly revenue was up 37.0% on a year-over-year basis. As a group, equities analysts anticipate that Ciena Corporation will post 6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CIEN. SmartHarvest Portfolios LLC boosted its holdings in Ciena by 1.8% in the 1st quarter. SmartHarvest Portfolios LLC now owns 1,142 shares of the communications equipment provider’s stock valued at $443,000 after purchasing an additional 20 shares during the period. Carolina Wealth Advisors LLC increased its holdings in shares of Ciena by 57.8% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 71 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 26 shares during the period. Triumph Capital Management raised its position in shares of Ciena by 15.2% during the second quarter. Triumph Capital Management now owns 205 shares of the communications equipment provider’s stock valued at $101,000 after buying an additional 27 shares during the last quarter. Syon Capital LLC lifted its stake in shares of Ciena by 3.1% in the second quarter. Syon Capital LLC now owns 910 shares of the communications equipment provider’s stock valued at $446,000 after buying an additional 27 shares during the period. Finally, Modera Wealth Management LLC grew its position in Ciena by 1.8% during the first quarter. Modera Wealth Management LLC now owns 1,685 shares of the communications equipment provider’s stock worth $654,000 after buying an additional 29 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CIEN has been the subject of a number of analyst reports. Barclays boosted their price target on Ciena from $475.00 to $548.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Ciena from $635.00 to $605.00 and set an “overweight” rating on the stock in a research note on Friday, September 4th. Argus set a $550.00 price objective on shares of Ciena in a research note on Thursday, September 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Ciena in a report on Thursday, September 3rd. Finally, Morgan Stanley reiterated a “positive” rating on shares of Ciena in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and an average target price of $483.47.

Key Headlines Impacting Ciena

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Analysts reacted favorably to Ciena’s long-term growth targets. Barclays raised its price target to $548 and maintained an overweight rating, while Morgan Stanley lifted its target to $450. Needham and Rosenblatt reaffirmed bullish ratings with targets of $520 and $525, respectively. Ciena’s 2029 Outlook Draws Positive Analyst Reactions
• Positive Sentiment: Investors were encouraged by expectations for continued market-share gains, strong orders and an expanding backlog. Ciena’s technology position in optical networking could allow it to benefit from sustained AI-related data-center spending. Ciena Expects Continued Market Share Gains
• Positive Sentiment: The outlook builds on recent operating momentum. Ciena’s latest reported quarter included earnings of $2.11 per share versus the $1.73 consensus estimate, revenue of $1.67 billion and 37% year-over-year revenue growth.
• Neutral Sentiment: Although analyst targets generally imply additional upside, Morgan Stanley retained an equal-weight rating, and some commentary questioned whether Ciena’s pricing power is durable or partly related to temporary supply constraints. The stock also trades at a relatively demanding valuation, increasing execution risk. Is Ciena’s Pricing Power Real, Or Just a Parts Shortage?
• Negative Sentiment: CEO Gary B. Smith sold 2,952 shares for approximately $975,000, while EVP Brodie Gage sold 1,200 shares worth about $390,000. Both transactions were made under pre-arranged Rule 10b5-1 plans, limiting their bearish signal, but insider selling may create modest pressure following the rally.

About Ciena

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software and services for communications networks. Its solutions help service providers, cloud companies, enterprises and government organizations build, manage and automate high-capacity networks that support broadband, cloud computing, data center interconnection and other digital services.

The company’s product portfolio includes optical networking systems, coherent optical technology, routers, switches, network control and automation software, and network management tools.