Landscape Capital Management L.L.C. Invests $2.94 Million in Ciena Corporation $CIEN

Landscape Capital Management L.L.C. purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the fourth quarter, HoldingsChannel reports. The fund purchased 12,584 shares of the communications equipment provider’s stock, valued at approximately $2,943,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV grew its holdings in shares of Ciena by 11.3% during the fourth quarter. KBC Group NV now owns 31,161 shares of the communications equipment provider’s stock worth $7,288,000 after buying an additional 3,156 shares in the last quarter. FengHe Fund Management Pte. Ltd. grew its holdings in shares of Ciena by 164.0% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 660,988 shares of the communications equipment provider’s stock worth $154,585,000 after buying an additional 410,588 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ciena by 53.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 445,359 shares of the communications equipment provider’s stock worth $104,156,000 after buying an additional 155,712 shares in the last quarter. DNB Asset Management AS grew its holdings in Ciena by 1,095.8% in the fourth quarter. DNB Asset Management AS now owns 27,527 shares of the communications equipment provider’s stock valued at $6,438,000 after purchasing an additional 25,225 shares during the period. Finally, Peak Financial Advisors LLC grew its holdings in Ciena by 222.7% in the fourth quarter. Peak Financial Advisors LLC now owns 11,596 shares of the communications equipment provider’s stock valued at $2,712,000 after purchasing an additional 8,003 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CIEN shares. Evercore set a $330.00 target price on shares of Ciena in a report on Thursday, February 19th. Stifel Nicolaus set a $615.00 target price on shares of Ciena in a report on Friday, May 29th. UBS Group boosted their target price on shares of Ciena from $285.00 to $508.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Northland Securities set a $450.00 target price on shares of Ciena in a report on Friday, June 5th. Finally, Zacks Research downgraded shares of Ciena from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ciena has a consensus rating of “Moderate Buy” and an average target price of $530.56.

Ciena Trading Down 0.1%

Shares of CIEN stock opened at $445.32 on Monday. The stock has a market cap of $63.04 billion, a price-to-earnings ratio of 148.44 and a beta of 1.24. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53. Ciena Corporation has a fifty-two week low of $71.72 and a fifty-two week high of $637.51. The firm’s 50 day moving average price is $521.49 and its two-hundred day moving average price is $364.89.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. Ciena’s revenue was up 39.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, analysts anticipate that Ciena Corporation will post 5.4 EPS for the current year.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Jason Phipps sold 22,014 shares of Ciena stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the transaction, the senior vice president directly owned 68 shares of the company’s stock, valued at $27,866.40. The trade was a 99.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 5,000 shares of Ciena stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the transaction, the senior vice president directly owned 46,341 shares in the company, valued at approximately $18,768,105. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,222 shares of company stock valued at $18,441,027 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.