Brodie Gage Sells 111 Shares of Ciena (NYSE:CIEN) Stock

Ciena Corporation (NYSE:CIEN) SVP Brodie Gage sold 111 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $190.80, for a total transaction of $21,178.80. Following the sale, the senior vice president owned 40,542 shares in the company, valued at approximately $7,735,413.60. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Brodie Gage also recently made the following trade(s):

• On Wednesday, October 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $169.36, for a total value of $59,276.00.
• 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.

Ciena Stock Down 2.5%

NYSE:CIEN traded down $4.84 during trading hours on Tuesday, reaching $186.94. 3,463,164 shares of the stock were exchanged, compared to its average volume of 2,425,864. The stock has a market cap of $26.37 billion, a PE ratio of 192.72, a PEG ratio of 2.62 and a beta of 1.17. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $214.17. The firm has a 50 day moving average of $164.68 and a 200 day moving average of $112.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. The business had revenue of $844.44 million for the quarter. On average, equities analysts expect that Ciena Corporation will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CIEN. World Investment Advisors acquired a new stake in shares of Ciena during the 2nd quarter worth about $253,000. Vaughan Nelson Investment Management L.P. grew its stake in Ciena by 375.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock valued at $100,499,000 after buying an additional 975,792 shares during the last quarter. Inspire Investing LLC raised its holdings in Ciena by 516.6% in the 1st quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider’s stock valued at $1,131,000 after acquiring an additional 15,683 shares during the period. Amundi raised its holdings in Ciena by 322.8% in the 1st quarter. Amundi now owns 34,035 shares of the communications equipment provider’s stock valued at $1,912,000 after acquiring an additional 25,986 shares during the period. Finally, Connective Portfolio Management LLC acquired a new stake in Ciena during the second quarter worth approximately $651,000. 91.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CIEN. JPMorgan Chase & Co. lifted their target price on Ciena from $105.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. B. Riley reaffirmed a “neutral” rating and set a $113.00 price target (up previously from $90.00) on shares of Ciena in a research report on Friday, September 5th. Stifel Nicolaus upped their price objective on Ciena from $120.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Evercore ISI raised their target price on shares of Ciena from $120.00 to $200.00 and gave the company an “in-line” rating in a research note on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Ciena from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and an average target price of $153.20.

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.