Ciena Co. (CIEN) SVP Sells $77,300.00 in Stock

Ciena Co. (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $38.65, for a total value of $77,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Tuesday, April 2nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The stock was sold at an average price of $37.88, for a total value of $75,760.00.
  • On Tuesday, March 19th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The stock was sold at an average price of $39.34, for a total value of $78,680.00.
  • On Tuesday, March 5th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The stock was sold at an average price of $43.38, for a total value of $86,760.00.
  • On Tuesday, February 5th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The stock was sold at an average price of $37.91, for a total value of $75,820.00.
  • On Tuesday, January 22nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The stock was sold at an average price of $38.68, for a total value of $77,360.00.

CIEN traded down $0.35 on Wednesday, hitting $38.35. 1,716,790 shares of the company’s stock traded hands, compared to its average volume of 2,307,119. The company has a market capitalization of $6.04 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Ciena Co. has a one year low of $22.99 and a one year high of $45.70. The company has a current ratio of 2.98, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last issued its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $778.53 million for the quarter, compared to the consensus estimate of $761.62 million. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. Equities research analysts predict that Ciena Co. will post 1.54 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Ciena by 187.6% in the 4th quarter. Mackenzie Financial Corp now owns 830,481 shares of the communications equipment provider’s stock worth $28,162,000 after acquiring an additional 541,711 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Ciena by 96.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,599,900 shares of the communications equipment provider’s stock valued at $54,248,000 after purchasing an additional 786,600 shares in the last quarter. First Quadrant L P CA boosted its holdings in Ciena by 124.3% in the 4th quarter. First Quadrant L P CA now owns 52,507 shares of the communications equipment provider’s stock valued at $1,781,000 after purchasing an additional 29,102 shares in the last quarter. HL Financial Services LLC boosted its holdings in Ciena by 10.0% in the 4th quarter. HL Financial Services LLC now owns 143,951 shares of the communications equipment provider’s stock valued at $4,881,000 after purchasing an additional 13,053 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Ciena by 30.5% in the 3rd quarter. Janus Henderson Group PLC now owns 11,796 shares of the communications equipment provider’s stock valued at $369,000 after purchasing an additional 2,757 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Northland Securities raised Ciena from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Monday. ValuEngine downgraded Ciena from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. set a $45.00 price objective on Ciena and gave the stock a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research raised Ciena from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research note on Friday, March 8th. Finally, UBS Group set a $42.00 price objective on Ciena and gave the stock a “hold” rating in a research note on Thursday, March 7th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Ciena currently has a consensus rating of “Buy” and an average price target of $42.30.

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About Ciena

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software.

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

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