16,295 Shares in Ciena Co. (NYSE:CIEN) Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in shares of Ciena Co. (NYSE:CIEN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 16,295 shares of the communications equipment provider’s stock, valued at approximately $1,382,000.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc increased its holdings in Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 296 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 279 shares during the period. Picton Mahoney Asset Management acquired a new position in Ciena during the 4th quarter worth approximately $41,000. Parkside Financial Bank & Trust boosted its holdings in Ciena by 409.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 418 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in Ciena in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

Shares of NYSE:CIEN opened at $61.50 on Friday. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 107.90, a PEG ratio of 1.54 and a beta of 0.91. The stock’s 50 day moving average price is $78.74 and its 200 day moving average price is $73.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Analyst Ratings Changes

A number of equities analysts have weighed in on CIEN shares. Needham & Company LLC decreased their price objective on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. B. Riley reissued a “buy” rating and issued a $89.00 target price (down previously from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Barclays set a $100.00 price target on Ciena and gave the stock an “overweight” rating in a report 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. Finally, Citigroup boosted their price target on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ciena has a consensus rating of “Moderate Buy” and an average target price of $81.38.

Insider Buying and Selling

In other news, SVP David M. Rothenstein sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 207,370 shares of the company’s stock, valued at approximately $14,283,645.60. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, the senior vice president now owns 49,197 shares of the company’s stock, valued at $4,435,601.52. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,560 shares of company stock valued at $5,406,323 over the last three months. Company insiders own 0.93% of the company’s stock.

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.