Ciena Corporation $CIEN Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its holdings in shares of Ciena Corporation (NYSE:CIEN) by 82.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,203 shares of the communications equipment provider’s stock after buying an additional 544 shares during the period. Parkside Financial Bank & Trust’s holdings in Ciena were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in CIEN. Titan Global Capital Management USA LLC increased its holdings in Ciena by 92.4% in the second quarter. Titan Global Capital Management USA LLC now owns 212,382 shares of the communications equipment provider’s stock valued at $17,273,000 after buying an additional 101,987 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Ciena by 316.5% in the 2nd quarter. Penserra Capital Management LLC now owns 168,211 shares of the communications equipment provider’s stock valued at $13,679,000 after acquiring an additional 127,820 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in Ciena by 218.1% in the second quarter. Vestmark Advisory Solutions Inc. now owns 19,117 shares of the communications equipment provider’s stock valued at $1,555,000 after purchasing an additional 13,108 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Ciena during the 2nd quarter worth about $9,625,000. Finally, Savant Capital LLC increased its position in Ciena by 2.6% during the second quarter. Savant Capital LLC now owns 35,775 shares of the communications equipment provider’s stock worth $2,910,000 after purchasing an additional 912 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BNP Paribas set a $185.00 price objective on Ciena and gave the stock an “outperform” rating in a report on Monday, October 13th. Bank of America boosted their price objective on shares of Ciena from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Evercore ISI increased their price objective on shares of Ciena from $120.00 to $200.00 and gave the stock an “in-line” rating in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Ciena from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ciena presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.20.

Ciena Stock Performance

Ciena stock opened at $206.86 on Wednesday. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $214.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52. The company has a market capitalization of $29.18 billion, a price-to-earnings ratio of 213.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The firm’s fifty day moving average price is $157.90 and its 200 day moving average price is $109.03.

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

Insiders Place Their Bets

In other Ciena news, Director Bruce L. Claflin sold 8,461 shares of Ciena stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the sale, the director directly owned 54,624 shares in the company, valued at $7,653,914.88. The trade was a 13.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $190.45, for a total value of $1,295,060.00. Following the transaction, the chief executive officer owned 268,470 shares of the company’s stock, valued at approximately $51,130,111.50. This trade represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 52,174 shares of company stock worth $7,231,504 in the last quarter. Company insiders own 0.93% of the company’s stock.

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.