21,769 Shares in Ciena Co. (NYSE:CIEN) Bought by Coyle Financial Counsel LLC

Coyle Financial Counsel LLC bought a new position in Ciena Co. (NYSE:CIEN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 21,769 shares of the communications equipment provider’s stock, valued at approximately $1,846,000. Ciena accounts for about 0.6% of Coyle Financial Counsel LLC’s portfolio, making the stock its 27th biggest position.

Several other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Ciena during the 3rd quarter worth about $57,861,000. Stephens Investment Management Group LLC bought a new position in shares of Ciena during the 4th quarter worth about $56,997,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Ciena during the 3rd quarter worth about $40,416,000. Westfield Capital Management Co. LP bought a new position in shares of Ciena during the 3rd quarter worth about $35,403,000. Finally, LMR Partners LLP bought a new position in shares of Ciena during the 3rd quarter worth about $17,236,000. Institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

NYSE:CIEN opened at $80.38 on Tuesday. The firm has a market cap of $11.46 billion, a PE ratio of 141.01, a price-to-earnings-growth ratio of 1.54 and a beta of 0.88. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $86.42 and its two-hundred day moving average price is $71.67.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, equities analysts anticipate that Ciena Co. will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

CIEN has been the topic of several recent research reports. Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and lifted their target price for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Barclays lifted their target price on shares of Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Northland Securities lifted their target price on shares of Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Ciena in a research report on Friday, January 10th. Finally, Rosenblatt Securities lifted their target price on shares of Ciena from $75.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

Insiders Place Their Bets

In other Ciena news, CEO Gary B. Smith sold 13,600 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total value of $1,137,776.00. Following the completion of the transaction, the chief executive officer now directly owns 425,749 shares of the company’s stock, valued at approximately $35,618,161.34. The trade was a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce L. Claflin sold 16,912 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the sale, the director now directly owns 59,347 shares of the company’s stock, valued at approximately $5,042,121.12. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,642 shares of company stock valued at $4,818,176. Insiders own 0.93% of the company’s stock.

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.