Stance Capital LLC Buys New Shares in Ciena Corporation $CIEN

Stance Capital LLC purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the 4th quarter, Holdings Channel reports. The firm purchased 5,765 shares of the communications equipment provider’s stock, valued at approximately $1,348,000.

Other large investors also recently bought and sold shares of the company. Community Bank N.A. acquired a new position in shares of Ciena in the 3rd quarter valued at $25,000. Transamerica Financial Advisors LLC grew its stake in shares of Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 44 shares during the period. Assetmark Inc. raised its position in shares of Ciena by 50.4% in the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 67 shares during the period. Ameritas Advisory Services LLC raised its position in shares of Ciena by 104.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 104 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Ciena in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CIEN. Wolfe Research reissued an “outperform” rating and set a $375.00 price target on shares of Ciena in a research report on Thursday, March 5th. Rothschild & Co Redburn initiated coverage on Ciena in a report on Friday, May 1st. They issued a “neutral” rating and a $416.00 price objective on the stock. Northland Securities set a $450.00 price objective on Ciena in a research note on Friday, June 5th. Stifel Nicolaus set a $615.00 target price on Ciena in a report on Friday, May 29th. Finally, Citigroup increased their target price on shares of Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $530.56.

Ciena Stock Down 0.0%

Shares of NYSE CIEN opened at $428.02 on Friday. The stock has a fifty day moving average price of $519.74 and a 200 day moving average price of $372.01. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. Ciena Corporation has a 12-month low of $73.55 and a 12-month high of $637.51. The company has a market cap of $60.59 billion, a P/E ratio of 142.67 and a beta of 1.24.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Research analysts anticipate that Ciena Corporation will post 5.4 EPS for the current fiscal year.

Insider Activity at Ciena

In related news, CEO Gary B. Smith sold 2,952 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $457.02, for a total transaction of $1,349,123.04. Following the sale, the chief executive officer directly owned 266,605 shares in the company, valued at approximately $121,843,817.10. This trade represents a 1.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $466.10, for a total value of $559,320.00. Following the transaction, the senior vice president directly owned 42,741 shares in the company, valued at $19,921,580.10. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 45,374 shares of company stock worth $20,349,470. 0.58% of the stock is currently owned by company insiders.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.