Creative Planning Has $618,000 Stake in Ciena Corporation (NYSE:CIEN)

Creative Planning lowered its position in Ciena Corporation (NYSE:CIEN) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,693 shares of the communications equipment provider’s stock after selling 3,927 shares during the period. Creative Planning’s holdings in Ciena Corporation were worth $618,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Ciena Corporation by 11,733.7% in the first quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock worth $371,979,000 after buying an additional 15,622,062 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ciena Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock worth $289,534,000 after buying an additional 1,235,744 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Ciena Corporation by 36.4% in the first quarter. TIAA CREF Investment Management LLC now owns 8,553,894 shares of the communications equipment provider’s stock worth $201,957,000 after buying an additional 2,283,352 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Ciena Corporation by 21.1% in the first quarter. Teachers Advisors LLC now owns 4,900,040 shares of the communications equipment provider’s stock worth $115,690,000 after buying an additional 853,793 shares during the last quarter. Finally, State Street Corp raised its position in shares of Ciena Corporation by 3.6% in the first quarter. State Street Corp now owns 4,475,664 shares of the communications equipment provider’s stock worth $105,671,000 after buying an additional 155,632 shares during the last quarter.

Ciena Corporation (NYSE CIEN) opened at 24.17 on Friday. The firm’s 50-day moving average price is $25.58 and its 200-day moving average price is $24.51. The company has a market cap of $3.43 billion, a PE ratio of 31.93 and a beta of 1.61. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98.

Ciena Corporation (NYSE:CIEN) last posted its earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The company had revenue of $707.02 million for the quarter, compared to analyst estimates of $694.84 million. During the same quarter in the prior year, the business posted $0.34 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Ciena Corporation will post $1.77 earnings per share for the current fiscal year.

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A number of research analysts have commented on CIEN shares. Needham & Company LLC increased their price objective on Ciena Corporation from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, June 2nd. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective (up from $23.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. Instinet reiterated a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. BMO Capital Markets reissued a “buy” rating and issued a $30.00 price target on shares of Ciena Corporation in a research note on Thursday, April 27th. Finally, Zacks Investment Research downgraded Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $30.19.

In related news, CEO Gary B. Smith sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $26.25, for a total value of $105,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick Gallagher sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $26.29, for a total transaction of $78,870.00. The disclosure for this sale can be found here. Insiders sold a total of 68,689 shares of company stock worth $1,753,805 in the last 90 days. 1.45% of the stock is currently owned by company insiders.

About Ciena Corporation

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Institutional Ownership by Quarter for Ciena Corporation (NYSE:CIEN)

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