Ciena Co. (NYSE:CIEN) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its holdings in Ciena Co. (NYSE:CIEN) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,575 shares of the communications equipment provider’s stock after selling 2,143 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Ciena were worth $1,830,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its holdings in shares of Ciena by 10.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 21,862 shares of the communications equipment provider’s stock valued at $1,854,000 after buying an additional 2,026 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Ciena during the fourth quarter valued at approximately $7,625,000. Norges Bank acquired a new stake in shares of Ciena during the 4th quarter worth approximately $7,356,000. WINTON GROUP Ltd lifted its holdings in shares of Ciena by 242.4% in the 4th quarter. WINTON GROUP Ltd now owns 104,167 shares of the communications equipment provider’s stock worth $8,834,000 after purchasing an additional 73,741 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 279 shares during the period. Institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In other news, SVP Jason Phipps sold 18,888 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total value of $1,131,013.44. Following the completion of the sale, the senior vice president now owns 89,258 shares in the company, valued at $5,344,769.04. This represents a 17.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total value of $31,556.00. Following the transaction, the senior vice president now owns 49,197 shares in the company, valued at $4,435,601.52. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,200 shares of company stock valued at $4,921,513. 0.93% of the stock is currently owned by corporate insiders.

Ciena Trading Up 5.7 %

Shares of NYSE CIEN opened at $65.03 on Thursday. 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. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 114.09, a P/E/G ratio of 1.54 and a beta of 0.91. The business has a fifty day simple moving average of $77.11 and a 200-day simple moving average of $74.23.

Analyst Ratings Changes

Several research analysts have commented on CIEN shares. Morgan Stanley decreased their target price on shares of Ciena from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Barclays set a $100.00 price target on Ciena and gave the company an “overweight” rating in a report on Wednesday, March 12th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Northland Securities raised shares of Ciena from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities reduced their price target on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.38.

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.