Ciena Co. (NYSE:CIEN) SVP David M. Rothenstein Sells 2,500 Shares

Ciena Co. (NYSE:CIEN) SVP David M. Rothenstein sold 2,500 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the transaction, the senior vice president now owns 207,370 shares of the company’s stock, valued at $14,283,645.60. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Ciena Trading Down 2.2 %

NYSE:CIEN opened at $61.50 on Friday. The stock has a fifty day simple moving average of $78.74 and a 200 day simple moving average of $73.92. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 107.90, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.00 to $95.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Rosenblatt Securities lowered their price objective on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Stifel Nicolaus restated a “buy” rating and issued a $82.00 target price (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Finally, Morgan Stanley lowered their price target 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. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Hedge Funds Weigh In On Ciena

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 111 Capital acquired a new position in Ciena during the fourth quarter valued at $428,000. Carolinas Wealth Consulting LLC acquired a new position in shares of Ciena in the 4th quarter valued at about $106,000. Forum Financial Management LP purchased a new stake in shares of Ciena in the fourth quarter worth approximately $259,000. Orion Capital Management LLC acquired a new stake in shares of Ciena during the fourth quarter worth approximately $42,000. Finally, Kolinsky Wealth Management LLC purchased a new position in Ciena during the fourth quarter valued at approximately $216,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

About Ciena

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.