Occudo Quantitative Strategies LP Invests $1.02 Million in Ciena Co. (NYSE:CIEN)

Occudo Quantitative Strategies LP purchased a new stake in shares of Ciena Co. (NYSE:CIEN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,016 shares of the communications equipment provider’s stock, valued at approximately $1,019,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Greenleaf Trust grew its stake 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 boosted its holdings in 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 purchasing an additional 151 shares during the last quarter. Bessemer Group Inc. grew its position in Ciena by 73.7% in the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 151 shares during the period. US Bancorp DE raised its stake in Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock valued at $887,000 after buying an additional 152 shares during the last quarter. Finally, Atlas Capital Advisors Inc. raised its stake in Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 183 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Up 2.0%

Shares of CIEN stock opened at $80.57 on Wednesday. The company’s fifty day simple moving average is $64.56 and its two-hundred day simple moving average is $74.31. Ciena Co. has a 52 week low of $44.69 and a 52 week high of $101.44. The stock has a market cap of $11.45 billion, a P/E ratio of 141.35, a PEG ratio of 1.54 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total value of $31,556.00. Following the sale, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $68.88, for a total transaction of $172,200.00. Following the transaction, the senior vice president now owns 207,370 shares of the company’s stock, valued at $14,283,645.60. This trade represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,288 shares of company stock valued at $3,211,852. 0.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CIEN. Needham & Company LLC dropped their price target on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley dropped their target price on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Northland Capmk upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. 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. Finally, Citigroup dropped their price objective on shares of Ciena from $98.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average target price of $77.62.

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.