3,179 Ciena Corporation $CIEN Shares Purchased by Inspire Investing LLC

Inspire Investing LLC lifted its position in Ciena Corporation (NYSE:CIEN) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,097 shares of the communications equipment provider’s stock after acquiring an additional 3,179 shares during the quarter. Inspire Investing LLC’s holdings in Ciena were worth $8,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Markowski Investments bought a new stake in Ciena in the 2nd quarter worth about $28,000. Carolina Wealth Advisors LLC increased its stake in Ciena by 57.8% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 71 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 26 shares during the last quarter. Asset Dedication LLC increased its stake in Ciena by 2,100.0% in the 1st quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 84 shares during the last quarter. Bogart Wealth LLC lifted its position in shares of Ciena by 635.7% during the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after buying an additional 89 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of Ciena during the 1st quarter worth approximately $49,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analyst Ratings Changes

CIEN has been the topic of a number of research analyst reports. Raymond James Financial restated 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. Weiss Ratings downgraded Ciena from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $520.00 price target on shares of Ciena in a report on Thursday, September 17th. Finally, Rosenblatt Securities restated a “buy” rating and set a $525.00 price objective on shares of Ciena in a report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $485.93.

Insiders Place Their Bets

In other Ciena news, EVP Joseph Cumello sold 1,586 shares of the company’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $358.52, for a total transaction of $568,612.72. Following the sale, the executive vice president directly owned 39,570 shares of the company’s stock, valued at $14,186,636.40. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $348.02, for a total transaction of $1,027,355.04. Following the sale, the chief executive officer directly owned 225,455 shares in the company, valued at approximately $78,462,849.10. This trade represents a 1.29% 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. Insiders sold a total of 36,014 shares of company stock worth $13,457,571 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Ciena Stock Performance

Shares of CIEN opened at $320.37 on Friday. The firm has a market cap of $45.43 billion, a PE ratio of 71.51, a PEG ratio of 4.48 and a beta of 1.28. The stock’s fifty day moving average price is $368.26 and its two-hundred day moving average price is $437.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.80 and a quick ratio of 3.17. Ciena Corporation has a 1 year low of $168.22 and a 1 year high of $637.51.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.38. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Ciena had a return on equity of 25.33% and a net margin of 10.87%. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, equities research analysts forecast that Ciena Corporation will post 6.00 EPS for the current year.

Ciena 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.