Ciena Co. (NYSE:CIEN) Shares Acquired by Tradewinds LLC.

Tradewinds LLC. increased its stake in shares of Ciena Co. (NYSE:CIEN) by 24.7% in the 4th quarter, Holdings Channel reports. The firm owned 6,954 shares of the communications equipment provider’s stock after purchasing an additional 1,379 shares during the period. Tradewinds LLC.’s holdings in Ciena were worth $610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 279 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Ciena in the fourth quarter valued at about $41,000. Parkside Financial Bank & Trust lifted its stake in shares of Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after buying an additional 418 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Ciena by 394.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 442 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CIEN. Citigroup increased their price objective on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a report on Friday, December 13th. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Barclays set a $100.00 target price on Ciena and gave the company an “overweight” rating in a report on Wednesday, March 12th. B. Riley reissued a “buy” rating and set a $89.00 price target (down previously from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Finally, Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Four 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.38.

Insider Activity

In related news, SVP Jason Phipps sold 5,648 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total value of $478,046.72. Following the completion of the sale, the senior vice president now directly owns 109,878 shares of the company’s stock, valued at $9,300,073.92. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of Ciena stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the sale, the senior vice president now owns 207,370 shares in the company, valued at $14,283,645.60. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,560 shares of company stock worth $5,406,323. 0.93% of the stock is currently owned by insiders.

Ciena Stock Performance

NYSE:CIEN opened at $60.43 on Tuesday. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The firm has a market capitalization of $8.59 billion, a PE ratio of 106.02, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The business’s fifty day moving average price is $78.25 and its 200 day moving average price is $74.25.

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.