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

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the sale, the senior vice president now directly owns 49,197 shares in the company, valued at $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 transaction of $30,068.50.

Ciena Stock Performance

Ciena stock traded down $0.75 during mid-day trading on Thursday, reaching $86.30. The company’s stock had a trading volume of 1,309,920 shares, compared to its average volume of 2,408,699. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 151.39, a PEG ratio of 1.60 and a beta of 0.88. The business has a 50 day moving average price of $86.71 and a 200-day moving average price of $70.72. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a twelve month low of $43.30 and a twelve month high of $101.44.

Ciena (NYSE:CIEN) last announced its quarterly earnings results 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 net margin of 2.09% and a return on equity of 4.72%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm posted $0.56 EPS. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Ciena Co. will post 1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CIEN has been the topic of several analyst reports. Citigroup raised their price target on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Morgan Stanley cut shares of Ciena from an “overweight” rating to an “equal weight” rating and set a $63.00 target price on the stock. in a research report on Monday, October 28th. Barclays raised their target price on shares of Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and raised their target price for the stock from $70.00 to $95.00 in a research report on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Ciena presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

Hedge Funds Weigh In On Ciena

Hedge funds and other institutional investors have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 151 shares during the period. Versant Capital Management Inc lifted its holdings in Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in 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 purchasing an additional 279 shares during the period. Bessemer Group Inc. lifted its holdings in Ciena by 73.7% in the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 151 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its holdings in Ciena by 77.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

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.