13,315 Shares in Ciena Co. (NYSE:CIEN) Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC purchased a new position in Ciena Co. (NYSE:CIEN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,315 shares of the communications equipment provider’s stock, valued at approximately $1,129,000.

A number of other hedge funds also recently bought and sold shares of CIEN. Point72 Asset Management L.P. bought a new position in Ciena in the 3rd quarter worth about $57,861,000. Stephens Investment Management Group LLC bought a new position in Ciena during the 4th quarter valued at about $56,997,000. Vaughan Nelson Investment Management L.P. bought a new position in Ciena during the 3rd quarter valued at about $40,416,000. Westfield Capital Management Co. LP bought a new position in Ciena during the 3rd quarter valued at about $35,403,000. Finally, LMR Partners LLP bought a new position in Ciena during the 3rd quarter valued at about $17,236,000. Institutional investors own 91.99% of the company’s stock.

Ciena Trading Down 0.2 %

Ciena stock opened at $88.65 on Friday. The firm has a 50 day moving average of $85.42 and a 200 day moving average of $69.53. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 155.53, a P/E/G ratio of 1.66 and a beta of 0.88. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. 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 (NYSE:CIEN) last released its 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). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Ciena had a return on equity of 4.72% and a net margin of 2.09%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, research analysts predict that Ciena Co. will post 1.6 earnings per share for the current year.

Analysts Set New Price Targets

CIEN has been the topic of several research analyst reports. 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 note on Monday, October 28th. Barclays upped their target price on shares of Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and upped their target price for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Northland Securities upped their target price on shares of Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, December 13th. Finally, Citigroup increased their price objective 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. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Insider Buying and Selling

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $84.86, for a total transaction of $577,048.00. Following the completion of the sale, the chief executive officer now directly owns 412,149 shares of the company’s stock, valued at $34,974,964.14. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $89.09, for a total transaction of $311,815.00. Following the sale, the senior vice president now directly owns 192,997 shares of the company’s stock, valued at approximately $17,194,102.73. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,292 shares of company stock valued at $4,786,620. 0.83% of the stock is owned by corporate insiders.

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.