Andrew C. Petrik Sells 2,000 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN) VP Andrew C. Petrik sold 2,000 shares of Ciena stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.11, for a total transaction of $82,220.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Andrew C. Petrik also recently made the following trade(s):

  • On Wednesday, July 17th, Andrew C. Petrik sold 2,000 shares of Ciena stock. The stock was sold at an average price of $44.29, for a total transaction of $88,580.00.

NYSE:CIEN traded up $1.18 on Monday, hitting $42.25. 75,004 shares of the stock were exchanged, compared to its average volume of 1,908,806. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 1.33 and a beta of 1.11. Ciena Co. has a 52 week low of $26.21 and a 52 week high of $46.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.36 and a current ratio of 2.83. The company’s 50-day moving average price is $43.43 and its 200 day moving average price is $40.05.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $818.23 million. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 EPS. As a group, equities research analysts predict that Ciena Co. will post 1.74 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC increased its stake in shares of Ciena by 98.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Tobam acquired a new position in shares of Ciena in the 2nd quarter valued at approximately $33,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Ciena in the 1st quarter valued at approximately $37,000. Investors Research Corp acquired a new position in shares of Ciena in the 1st quarter valued at approximately $39,000. Finally, Coastal Capital Group Inc. acquired a new position in shares of Ciena in the 2nd quarter valued at approximately $41,000. 88.05% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently commented on CIEN. Citigroup boosted their target price on shares of Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Barclays initiated coverage on Ciena in a report on Wednesday, August 7th. They issued an “overweight” rating and a $50.00 price target for the company. Stifel Nicolaus lifted their price target on Ciena from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, June 7th. B. Riley lifted their price target on Ciena from $48.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Raymond James lifted their price target on Ciena from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Ciena presently has a consensus rating of “Buy” and an average price target of $46.79.

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.

Further Reading: Hold Rating

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

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