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

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $78.67, for a total value of $27,534.50. Following the sale, the senior vice president now directly owns 46,233 shares in the company, valued at approximately $3,637,150.11. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, April 15th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $58.51, for a total value of $20,478.50.
• 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 value of $31,556.00.

Ciena Trading Up 1.8%

NYSE:CIEN opened at $81.22 on Friday. Ciena Co. has a 1 year low of $44.69 and a 1 year high of $101.44. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of 142.49, a PEG ratio of 1.54 and a beta of 1.11. The business has a fifty day moving average of $65.40 and a 200-day moving average of $74.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CIEN. Price T Rowe Associates Inc. MD grew its stake in shares of 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. Nuveen LLC bought a new position in shares of Ciena in the first quarter worth $70,065,000. Polar Capital Holdings Plc grew its stake in shares of Ciena by 113.7% in the fourth quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider’s stock worth $183,987,000 after purchasing an additional 1,154,260 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Ciena by 4,215.9% in the fourth quarter. Marshall Wace LLP now owns 899,828 shares of the communications equipment provider’s stock worth $76,314,000 after purchasing an additional 878,979 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Ciena during the first quarter valued at about $49,221,000. Institutional investors own 91.99% of the company’s stock.

Wall Street Analyst Weigh In

CIEN has been the topic of several research reports. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. B. Riley restated a “buy” rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. Barclays set a $100.00 price objective on Ciena and gave the stock an “overweight” rating in a research note on Wednesday, March 12th. Finally, Needham & Company LLC lowered their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ciena has a consensus rating of “Moderate Buy” and a consensus price target of $77.62.

Ciena Company Profile

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.