Atria Wealth Solutions Inc. Buys Shares of 2,748 Ciena Corporation $CIEN

Atria Wealth Solutions Inc. purchased a new position in shares of Ciena Corporation (NYSE:CIEN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,748 shares of the communications equipment provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. grew its position in Ciena by 375.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock worth $100,499,000 after buying an additional 975,792 shares during the period. Inspire Investing LLC grew its holdings in shares of Ciena by 516.6% in the 1st quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider’s stock worth $1,131,000 after acquiring an additional 15,683 shares during the period. Amundi increased its stake in Ciena by 322.8% in the 1st quarter. Amundi now owns 34,035 shares of the communications equipment provider’s stock valued at $1,912,000 after purchasing an additional 25,986 shares in the last quarter. Connective Portfolio Management LLC acquired a new position in Ciena during the second quarter worth $651,000. Finally, Callan Family Office LLC acquired a new stake in Ciena in the second quarter valued at $295,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Rosenblatt Securities raised Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $127.50 to $175.00 in a research note on Friday, September 26th. Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 9th. Argus upped their price target on shares of Ciena from $100.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 5th. Wolfe Research upgraded shares of Ciena to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Ciena from $105.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.53.

Ciena Stock Performance

NYSE CIEN opened at $164.42 on Thursday. The business’s 50-day moving average price is $130.12 and its 200 day moving average price is $95.34. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $177.79. The company has a market capitalization of $23.19 billion, a PE ratio of 169.51, a price-to-earnings-growth ratio of 2.35 and a beta of 1.15.

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

Insider Buying and Selling at Ciena

In other news, SVP Joseph Cumello sold 1,863 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $141.14, for a total value of $262,943.82. Following the transaction, the senior vice president owned 43,531 shares of the company’s stock, valued at approximately $6,143,965.34. This trade represents a 4.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce L. Claflin sold 8,461 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $140.12, for a total value of $1,185,555.32. Following the transaction, the director owned 54,624 shares in the company, valued at approximately $7,653,914.88. This represents a 13.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,374 shares of company stock worth $5,936,444. 0.93% of the stock is currently owned by corporate insiders.

Ciena 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.