3,756 Shares in Ciena Corporation $CIEN Acquired by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,756 shares of the communications equipment provider’s stock, valued at approximately $1,458,000. Ciena comprises about 1.4% of Hanseatic Management Services Inc.’s holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Transamerica Financial Advisors LLC increased its stake in shares of Ciena by 71.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 44 shares during the period. Hilltop National Bank acquired a new position in Ciena during the fourth quarter valued at $35,000. Truvestments Capital LLC lifted its position in Ciena by 45.3% during the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 48 shares during the period. Bogart Wealth LLC boosted its holdings in Ciena by 635.7% in the first quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 89 shares during the last quarter. Finally, Acumen Wealth Advisors LLC purchased a new stake in Ciena in the fourth quarter valued at $40,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ciena

In related news, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $562.05, for a total transaction of $1,659,171.60. Following the completion of the transaction, the chief executive officer owned 272,509 shares in the company, valued at $153,163,683.45. This represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the completion of the transaction, the senior vice president directly owned 62,382 shares in the company, valued at $29,082,488.40. This represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,627 shares of company stock valued at $10,974,985. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. TD Cowen lifted their price objective on Ciena from $425.00 to $675.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $615.00 target price on Ciena in a research note on Friday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $600.00 target price on shares of Ciena in a report on Tuesday, June 23rd. B. Riley Financial lifted their price target on Ciena from $283.00 to $531.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Citigroup boosted their price target on Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.56.

Ciena Stock Down 3.9%

Shares of CIEN opened at $373.72 on Friday. The firm has a market cap of $52.90 billion, a P/E ratio of 124.57 and a beta of 1.27. Ciena Corporation has a 12 month low of $83.20 and a 12 month high of $637.51. The stock’s 50 day moving average is $495.15 and its two-hundred day moving average is $403.75. 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 (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Analysts predict that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

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.