3,067 Shares in Ciena Corporation $CIEN Purchased by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC acquired a new stake in shares of Ciena Corporation (NYSE:CIEN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,067 shares of the communications equipment provider’s stock, valued at approximately $249,000.

Other large investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its position in shares of Ciena by 2.9% during the second quarter. Coldstream Capital Management Inc. now owns 4,693 shares of the communications equipment provider’s stock worth $382,000 after acquiring an additional 132 shares during the period. National Bank of Canada FI boosted its holdings in shares of Ciena by 15.4% in the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 153 shares during the period. Bayforest Capital Ltd grew its stake in Ciena by 34.7% in the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 164 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ciena by 0.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,910 shares of the communications equipment provider’s stock worth $2,351,000 after purchasing an additional 178 shares during the period. Finally, Advisors Capital Management LLC increased its holdings in Ciena by 5.1% during the 2nd quarter. Advisors Capital Management LLC now owns 3,961 shares of the communications equipment provider’s stock worth $322,000 after purchasing an additional 191 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $92.93, for a total transaction of $631,924.00. Following the completion of the sale, the chief executive officer owned 305,157 shares of the company’s stock, valued at $28,358,240.01. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $169.36, for a total transaction of $59,276.00. Following the completion of the sale, the senior vice president owned 40,653 shares of the company’s stock, valued at approximately $6,884,992.08. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 51,935 shares of company stock worth $8,029,442. Insiders own 0.93% of the company’s stock.

Ciena Trading Up 2.1%

Shares of NYSE CIEN opened at $200.33 on Thursday. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $214.17. The business has a fifty day moving average price of $172.61 and a 200 day moving average price of $118.02. The stock has a market capitalization of $28.26 billion, a P/E ratio of 206.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CIEN shares. Argus upped their target price on Ciena from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Zacks Research lowered Ciena from a “strong-buy” rating to a “hold” rating in a research note on Monday. Rosenblatt Securities raised shares of Ciena from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $127.50 to $175.00 in a research note on Friday, September 26th. Citigroup increased their target price on shares of Ciena from $141.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Stifel Nicolaus raised their target price on shares of Ciena from $120.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.20.

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.