Insider Selling: Ciena Co. (NYSE:CIEN) SVP Sells 2,000 Shares of Stock

Ciena Co. (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $38.65, for a total value of $77,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Tuesday, April 2nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $37.88, for a total value of $75,760.00.
  • On Tuesday, March 19th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $39.34, for a total value of $78,680.00.
  • On Tuesday, March 5th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $43.38, for a total value of $86,760.00.
  • On Tuesday, February 5th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $37.91, for a total value of $75,820.00.
  • On Tuesday, January 22nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $38.68, for a total value of $77,360.00.

CIEN traded down $0.15 during trading on Friday, hitting $35.07. The stock had a trading volume of 2,519,693 shares, compared to its average volume of 2,284,407. Ciena Co. has a 12 month low of $22.99 and a 12 month high of $45.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.98 and a quick ratio of 2.52. The company has a market capitalization of $5.49 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02.

Ciena (NYSE:CIEN) last announced its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.06. Ciena had a net margin of 5.03% and a return on equity of 10.73%. The company had revenue of $778.53 million for the quarter, compared to analyst estimates of $761.62 million. During the same period in the prior year, the business earned $0.15 earnings per share. Ciena’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts anticipate that Ciena Co. will post 1.53 earnings per share for the current year.

A number of equities analysts have issued reports on CIEN shares. B. Riley increased their price target on Ciena from $42.20 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Zacks Investment Research upgraded Ciena from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Friday, March 8th. Dougherty & Co increased their price target on Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. MKM Partners raised their target price on Ciena to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Bank of America cut Ciena from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Wednesday, January 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.13.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oakbrook Investments LLC raised its stake in shares of Ciena by 4.1% during the first quarter. Oakbrook Investments LLC now owns 10,100 shares of the communications equipment provider’s stock worth $377,000 after buying an additional 400 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Ciena by 29.6% during the first quarter. Parkside Financial Bank & Trust now owns 1,789 shares of the communications equipment provider’s stock worth $67,000 after buying an additional 409 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Ciena by 1.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,339 shares of the communications equipment provider’s stock worth $946,000 after buying an additional 426 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Ciena by 3.6% during the fourth quarter. Advisor Group Inc. now owns 12,838 shares of the communications equipment provider’s stock worth $436,000 after buying an additional 444 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of Ciena by 2.5% during the first quarter. Campbell Newman Asset Management Inc. now owns 20,889 shares of the communications equipment provider’s stock worth $780,000 after buying an additional 510 shares during the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

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Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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