Ciena Corporation (CIEN) SVP Scott Mcfeely Sells 1,000 Shares

Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $21.60, for a total transaction of $21,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Scott Mcfeely also recently made the following trade(s):

  • On Tuesday, August 15th, Scott Mcfeely sold 1,000 shares of Ciena Corporation stock. The stock was sold at an average price of $24.44, for a total transaction of $24,440.00.
  • On Monday, July 17th, Scott Mcfeely sold 1,000 shares of Ciena Corporation stock. The stock was sold at an average price of $25.70, for a total transaction of $25,700.00.

Shares of Ciena Corporation (CIEN) traded down 1.16% during trading on Tuesday, reaching $22.08. 2,169,281 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $23.54 and a 200-day moving average price of $24.09. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 24.16 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last released its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The company had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts predict that Ciena Corporation will post $1.74 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Ciena Corporation by 11,733.7% during the 1st quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock worth $371,979,000 after purchasing an additional 15,622,062 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ciena Corporation by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,466,282 shares of the communications equipment provider’s stock worth $311,906,000 after purchasing an additional 203,112 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Ciena Corporation by 36.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 8,553,894 shares of the communications equipment provider’s stock worth $201,957,000 after purchasing an additional 2,283,352 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Ciena Corporation by 21.1% during the 1st quarter. Teachers Advisors LLC now owns 4,900,040 shares of the communications equipment provider’s stock worth $115,690,000 after purchasing an additional 853,793 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Ciena Corporation by 3.9% during the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock worth $116,319,000 after purchasing an additional 172,876 shares during the last quarter.

A number of research firms have recently issued reports on CIEN. Zacks Investment Research downgraded shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. B. Riley reissued a “buy” rating and set a $30.50 target price on shares of Ciena Corporation in a research report on Sunday, September 3rd. Northland Securities reissued a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research report on Sunday, September 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $30.00 price target on shares of Ciena Corporation in a report on Thursday, August 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Ciena Corporation in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $29.79.

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.

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

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