XTX Topco Ltd Raises Stock Position in Ciena Co. (NYSE:CIEN)

XTX Topco Ltd grew its position in shares of Ciena Co. (NYSE:CIEN) by 114.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,831 shares of the communications equipment provider’s stock after purchasing an additional 11,654 shares during the quarter. XTX Topco Ltd’s holdings in Ciena were worth $1,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CIEN. Greenleaf Trust grew its position in shares of Ciena by 2.8% during the 4th quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 136 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Ciena by 108.6% in 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 purchasing an additional 151 shares during the period. Bessemer Group Inc. increased its position in shares of Ciena by 73.7% in the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 151 shares in the last quarter. US Bancorp DE raised its stake in shares of Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock worth $887,000 after buying an additional 152 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of Ciena by 3.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock valued at $292,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.29, for a total transaction of $579,972.00. Following the completion of the sale, the chief executive officer now owns 418,949 shares in the company, valued at $35,732,160.21. This represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the transaction, the senior vice president now owns 89,258 shares in the company, valued at approximately $5,344,769.04. This represents a 17.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,288 shares of company stock worth $3,484,670. Company insiders own 0.93% of the company’s stock.

Ciena Trading Up 0.6 %

NYSE CIEN opened at $58.70 on Monday. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The firm has a 50 day simple moving average of $71.84 and a 200-day simple moving average of $74.10. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 102.99, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. B. Riley reissued a “buy” rating and issued a $89.00 price target (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Rosenblatt Securities lowered their price objective on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Northland Securities raised shares of Ciena from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $75.00 in a report on Wednesday, March 12th. Finally, Needham & Company LLC dropped their price target on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

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.