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

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 transaction of $31,556.00. Following the transaction, the senior vice president now directly owns 49,197 shares of the company’s stock, valued at $4,435,601.52. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Trading Down 0.5 %

Shares of CIEN opened at $86.58 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The stock has a 50-day moving average price of $86.75 and a 200 day moving average price of $70.83. The company has a market capitalization of $12.35 billion, a P/E ratio of 151.90, a P/E/G ratio of 1.55 and a beta of 0.88.

Ciena (NYSE:CIEN) last posted 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). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 earnings per share. Sell-side analysts forecast that Ciena Co. will post 1.6 EPS for the current fiscal year.

Institutional Trading of Ciena

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Forum Financial Management LP acquired a new position in shares of Ciena in the 4th quarter worth approximately $259,000. Orion Capital Management LLC acquired a new position in Ciena in the fourth quarter worth $42,000. Kolinsky Wealth Management LLC bought a new stake in Ciena during the fourth quarter valued at $216,000. Delta Investment Management LLC acquired a new stake in shares of Ciena during the fourth quarter worth $254,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ciena by 7.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 582,784 shares of the communications equipment provider’s stock worth $49,426,000 after buying an additional 41,687 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CIEN shares. Rosenblatt Securities boosted their price target on Ciena from $75.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays increased 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. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Citigroup boosted 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. Finally, Northland Securities raised 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. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

About Ciena

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.