Ciena Corporation (NYSE:CIEN – Get Free Report) SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total value of $59,276.00. Following the sale, the senior vice president owned 40,653 shares of the company’s stock, valued at approximately $6,884,992.08. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Brodie Gage also recently made the following trade(s):
- On Monday, September 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $132.00, for a total value of $46,200.00.
- On Friday, August 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $90.94, for a total value of $31,829.00.
Ciena Stock Up 0.3%
Shares of NYSE CIEN opened at $171.37 on Monday. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The company has a market cap of $24.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 2.37 and a beta of 1.15. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $176.88. The stock has a 50-day moving average price of $125.66 and a two-hundred day moving average price of $93.50.
Analysts Set New Price Targets
Several research analysts have recently issued reports on CIEN shares. Wall Street Zen raised Ciena from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a research report on Wednesday, October 8th. Evercore ISI lifted their price target on shares of Ciena from $95.00 to $120.00 and gave the stock an “in-line” rating in a report on Thursday, September 4th. Rosenblatt Securities raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $127.50 to $175.00 in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on Ciena from $105.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.53.
Check Out Our Latest Research Report on Ciena
Institutional Trading of Ciena
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Ciena by 50.0% in the 1st quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 178 shares in the last quarter. Bayforest Capital Ltd increased its holdings in Ciena by 34.7% in the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 164 shares in the last quarter. Allworth Financial LP lifted its stake in Ciena by 107.5% in the second quarter. Allworth Financial LP now owns 718 shares of the communications equipment provider’s stock valued at $58,000 after buying an additional 372 shares during the period. National Bank of Canada FI boosted its holdings in shares of Ciena by 15.4% during the 1st quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 153 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Ciena by 82.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 544 shares during the period. Institutional investors own 91.99% of the company’s stock.
About Ciena
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.
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