Ciena Co. (NYSE:CIEN) Shares Bought by Teza Capital Management LLC

Teza Capital Management LLC boosted its holdings in shares of Ciena Co. (NYSE:CIEN) by 242.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,133 shares of the communications equipment provider’s stock after purchasing an additional 24,880 shares during the period. Teza Capital Management LLC’s holdings in Ciena were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Greenleaf Trust raised its position in shares of Ciena by 2.8% in the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock worth $422,000 after acquiring an additional 136 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Ciena by 108.6% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 151 shares during the period. Bessemer Group Inc. raised its position in shares of Ciena by 73.7% in the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 151 shares during the period. US Bancorp DE raised its position in shares of Ciena by 1.5% in the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock worth $887,000 after acquiring an additional 152 shares during the period. Finally, Atlas Capital Advisors Inc. raised its position in shares of Ciena by 77.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Activity at Ciena

In related news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the sale, the senior vice president now owns 49,197 shares of the company’s stock, valued at approximately $4,435,601.52. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $76.41, for a total transaction of $519,588.00. Following the completion of the sale, the chief executive officer now directly owns 398,549 shares of the company’s stock, valued at approximately $30,453,129.09. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,138 shares of company stock valued at $3,439,211. Corporate insiders own 0.93% of the company’s stock.

Ciena Stock Up 1.8%

Shares of NYSE CIEN opened at $81.22 on Friday. Ciena Co. has a 12-month low of $44.69 and a 12-month high of $101.44. The stock has a market cap of $11.54 billion, a PE ratio of 142.49, a P/E/G ratio of 1.54 and a beta of 1.11. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $65.40 and a 200 day moving average of $74.63.

Analyst Ratings Changes

CIEN has been the subject of a number of analyst reports. Barclays set a $100.00 price objective on shares of Ciena and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. Needham & Company LLC decreased their price objective on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Citigroup reduced their price target on shares of Ciena from $98.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ciena from $88.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.62.

Ciena 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.