Healthcare of Ontario Pension Plan Trust Fund Has $276,000 Stake in Ciena Co. (NYSE:CIEN)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in Ciena Co. (NYSE:CIEN) by 76.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,584 shares of the communications equipment provider’s stock after selling 18,616 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Ciena were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CIEN. BNP Paribas Asset Management Holding S.A. increased its holdings in shares of Ciena by 7.9% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 5,021,719 shares of the communications equipment provider’s stock worth $226,028,000 after acquiring an additional 368,897 shares in the last quarter. Capital World Investors increased its holdings in shares of Ciena by 29.1% in the fourth quarter. Capital World Investors now owns 3,513,633 shares of the communications equipment provider’s stock worth $158,149,000 after acquiring an additional 791,215 shares in the last quarter. Senvest Management LLC increased its holdings in shares of Ciena by 23.0% in the fourth quarter. Senvest Management LLC now owns 2,952,264 shares of the communications equipment provider’s stock worth $132,881,000 after acquiring an additional 552,882 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ciena by 18.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,162,410 shares of the communications equipment provider’s stock worth $97,331,000 after acquiring an additional 332,181 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Ciena in the fourth quarter worth about $73,476,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Ciena in a report on Monday, June 3rd. JPMorgan Chase & Co. decreased their price objective on Ciena from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Barclays decreased their price objective on Ciena from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, June 7th. BNP Paribas initiated coverage on Ciena in a report on Thursday, April 11th. They set an “outperform” rating and a $57.00 price objective for the company. Finally, Citigroup assumed coverage on Ciena in a report on Friday, April 12th. They set a “sell” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Ciena has an average rating of “Moderate Buy” and an average price target of $57.25.

Ciena Stock Performance

CIEN opened at $49.82 on Friday. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 47.90, a PEG ratio of 5.18 and a beta of 0.95. The business has a 50 day moving average of $48.24 and a 200-day moving average of $50.02. The company has a quick ratio of 2.76, a current ratio of 3.88 and a debt-to-equity ratio of 0.53.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $910.80 million during the quarter, compared to analysts’ expectations of $895.80 million. Ciena had a return on equity of 7.16% and a net margin of 3.71%. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. On average, equities research analysts expect that Ciena Co. will post 1.15 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Joseph Cumello sold 1,288 shares of Ciena stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $49.00, for a total transaction of $63,112.00. Following the completion of the sale, the senior vice president now directly owns 49,883 shares of the company’s stock, valued at approximately $2,444,267. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Joseph Cumello sold 1,288 shares of Ciena stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $49.00, for a total transaction of $63,112.00. Following the completion of the sale, the senior vice president now directly owns 49,883 shares of the company’s stock, valued at approximately $2,444,267. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 4,166 shares of Ciena stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $47.99, for a total value of $199,926.34. Following the completion of the transaction, the chief executive officer now directly owns 372,611 shares of the company’s stock, valued at $17,881,601.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,832 shares of company stock valued at $769,636. Insiders own 0.83% of the company’s stock.

Ciena Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.