Andrew C. Petrik Sells 1,251 Shares of Ciena Corporation (CIEN) Stock

Ciena Corporation (NYSE:CIEN) VP Andrew C. Petrik sold 1,251 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.60, for a total value of $27,021.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Andrew C. Petrik also recently made the following trade(s):

  • On Tuesday, August 15th, Andrew C. Petrik sold 1,258 shares of Ciena Corporation stock. The shares were sold at an average price of $24.44, for a total value of $30,745.52.

Shares of Ciena Corporation (NYSE CIEN) traded down 1.16% on Tuesday, reaching $22.08. The company had a trading volume of 2,169,281 shares. The stock has a 50-day moving average price of $23.54 and a 200-day moving average price of $24.09. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The stock has a market cap of $3.15 billion, a PE ratio of 24.16 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Analysts predict that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.

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A number of research firms recently commented on CIEN. Instinet reiterated a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. MKM Partners reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Ciena Corporation in a report on Friday, June 2nd. Finally, B. Riley reiterated a “buy” rating and issued a $34.00 price objective on shares of Ciena Corporation in a report on Sunday, June 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $29.79.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Ciena Corporation by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock worth $518,000 after purchasing an additional 58 shares in the last quarter. Capstone Asset Management Co. increased its holdings in Ciena Corporation by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 130 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Ciena Corporation by 1.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock worth $269,000 after purchasing an additional 200 shares in the last quarter. World Asset Management Inc increased its holdings in Ciena Corporation by 2.8% during the 2nd quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock worth $224,000 after purchasing an additional 243 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Ciena Corporation by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 300 shares in the last quarter.

About Ciena Corporation

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.

Insider Buying and Selling by Quarter for Ciena Corporation (NYSE:CIEN)

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