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

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $58.51, for a total value of $20,478.50. Following the completion of the sale, the senior vice president now owns 46,583 shares of the company’s stock, valued at $2,725,571.33. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Brodie Gage also recently made the following trade(s):

• On Tuesday, February 18th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00.

Ciena Trading Up 2.3 %

NYSE:CIEN opened at $60.22 on Friday. The company has a 50-day moving average price of $69.28 and a 200-day moving average price of $73.86. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 105.65, a P/E/G ratio of 1.54 and a beta of 1.15. 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 12 month low of $43.30 and a 12 month high of $101.44.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CIEN shares. Needham & Company LLC lowered their price target on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Morgan Stanley reduced their price target on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Citigroup lowered their price objective on Ciena from $98.00 to $75.00 and set a “buy” rating for the company in a research report on Monday. B. Riley reissued a “buy” rating and set a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ciena from $88.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.69.

Institutional Trading of Ciena

Several institutional investors and hedge funds have recently bought and sold shares of CIEN. Vanguard Group Inc. raised its position in shares of Ciena by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock worth $1,299,004,000 after acquiring an additional 139,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Ciena by 0.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider’s stock worth $444,143,000 after purchasing an additional 17,447 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Ciena by 195.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider’s stock worth $392,345,000 after purchasing an additional 3,062,883 shares in the last quarter. Bank of America Corp DE lifted its position in Ciena by 1.6% during the fourth quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider’s stock valued at $273,684,000 after buying an additional 49,996 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Ciena by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider’s stock valued at $205,301,000 after buying an additional 11,933 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

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.