Brodie Gage Sells 350 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the completion of the sale, the senior vice president now owns 49,197 shares of the company’s stock, valued at $4,435,601.52. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brodie Gage also recently made the following trade(s):

• On Wednesday, January 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $85.91, for a total value of $30,068.50.

Ciena Price Performance

CIEN opened at $84.15 on Friday. The firm has a market capitalization of $12.00 billion, a P/E ratio of 147.63, a PEG ratio of 1.55 and a beta of 0.88. The stock has a fifty day moving average of $86.64 and a 200-day moving average of $71.10. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $0.56 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Ciena Co. will post 1.6 EPS for the current fiscal year.

Institutional Trading of Ciena

Several institutional investors have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its position in Ciena by 108.6% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 296 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 279 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Ciena by 73.7% during the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 151 shares in the last quarter. Finally, Atlas Capital Advisors Inc. boosted its position in Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 183 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on CIEN shares. Rosenblatt Securities lifted their target price on Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Northland Securities lifted their price objective on shares of Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, December 13th. Morgan Stanley lowered shares of Ciena from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research note on Monday, October 28th. Stifel Nicolaus restated a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Finally, Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Ciena Company 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.