Ciena Co. (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $23.70, for a total transaction of $23,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Scott Mcfeely also recently made the following trade(s):
- On Thursday, April 27th, Scott Mcfeely sold 1,000 shares of Ciena stock. The shares were sold at an average price of $23.25, for a total transaction of $23,250.00.
Shares of Ciena Co. (NYSE:CIEN) traded up 1.19% during mid-day trading on Friday, reaching $22.95. 1,681,742 shares of the company were exchanged. Ciena Co. has a 12 month low of $15.95 and a 12 month high of $26.84. The firm has a market capitalization of $3.24 billion, a PE ratio of 37.68 and a beta of 1.66. The company’s 50 day moving average price is $22.74 and its 200 day moving average price is $23.40.
Ciena (NYSE:CIEN) last released its quarterly earnings results on Wednesday, March 8th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.03. Ciena had a net margin of 2.79% and a return on equity of 23.37%. The firm had revenue of $621.50 million for the quarter, compared to analyst estimates of $632.29 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Ciena Co. will post $1.69 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in CIEN. Profund Advisors LLC raised its stake in Ciena by 36.4% in the third quarter. Profund Advisors LLC now owns 23,974 shares of the communications equipment provider’s stock worth $523,000 after buying an additional 6,393 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Ciena by 4.6% in the third quarter. Pacer Advisors Inc. now owns 12,132 shares of the communications equipment provider’s stock worth $264,000 after buying an additional 531 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Ciena by 11.1% in the third quarter. Principal Financial Group Inc. now owns 546,035 shares of the communications equipment provider’s stock worth $11,904,000 after buying an additional 54,410 shares during the last quarter. DE Burlo Group Inc. bought a new position in shares of Ciena during the third quarter worth approximately $4,331,000. Finally, Northern Trust Corp increased its position in shares of Ciena by 2.0% in the third quarter. Northern Trust Corp now owns 2,411,221 shares of the communications equipment provider’s stock worth $52,565,000 after buying an additional 46,167 shares during the last quarter. Institutional investors and hedge funds own 95.25% of the company’s stock.
A number of brokerages have issued reports on CIEN. BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 target price on shares of Ciena in a report on Thursday, April 27th. Deutsche Bank AG dropped their target price on shares of Ciena from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, March 24th. Wells Fargo & Co reaffirmed an “overweight” rating on shares of Ciena in a report on Tuesday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Ciena in a report on Tuesday, March 21st. Finally, TheStreet cut shares of Ciena from a “b-” rating to a “c+” rating in a report on Tuesday, March 14th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.13.
Ciena Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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