Ciena Corporation $CIEN Shares Bought by Hantz Financial Services Inc.

Hantz Financial Services Inc. boosted its stake in shares of Ciena Corporation (NYSE:CIEN) by 94.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,162 shares of the communications equipment provider’s stock after purchasing an additional 3,001 shares during the quarter. Hantz Financial Services Inc.’s holdings in Ciena were worth $1,441,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its position in Ciena by 9.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 710 shares of the communications equipment provider’s stock worth $166,000 after purchasing an additional 63 shares during the period. Assetmark Inc. grew its position in Ciena by 50.4% during the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. IFP Advisors Inc grew its position in Ciena by 6.9% during the 4th quarter. IFP Advisors Inc now owns 1,055 shares of the communications equipment provider’s stock worth $247,000 after purchasing an additional 68 shares during the period. Legacy Financial Advisors Inc. grew its position in Ciena by 5.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,549 shares of the communications equipment provider’s stock worth $362,000 after purchasing an additional 79 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in Ciena by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider’s stock worth $695,000 after purchasing an additional 79 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CIEN has been the topic of several analyst reports. Citigroup increased their price target on Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. UBS Group lifted their price objective on Ciena from $230.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Rothschild & Co Redburn began coverage on Ciena in a report on Friday, May 1st. They issued a “neutral” rating and a $416.00 price objective on the stock. Zacks Research raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Ciena presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.94.

Ciena Trading Down 3.6%

CIEN opened at $580.90 on Thursday. Ciena Corporation has a one year low of $70.77 and a one year high of $605.61. The stock has a market capitalization of $82.14 billion, a PE ratio of 370.00, a P/E/G ratio of 1.97 and a beta of 1.24. The business’s 50 day moving average price is $492.80 and its 200 day moving average price is $337.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.14 and a current ratio of 2.81.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, equities research analysts expect that Ciena Corporation will post 5.12 EPS for the current year.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $570.65, for a total value of $684,780.00. Following the sale, the senior vice president owned 43,941 shares of the company’s stock, valued at $25,074,931.65. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $562.05, for a total value of $1,659,171.60. Following the completion of the sale, the chief executive officer directly owned 272,509 shares in the company, valued at approximately $153,163,683.45. The trade was a 1.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,174 shares of company stock valued at $18,878,661 over the last quarter. 0.58% of the stock is owned by company insiders.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.