Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.23 Million in Ciena Corporation $CIEN

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Ciena Corporation (NYSE:CIEN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,264 shares of the communications equipment provider’s stock, valued at approximately $1,231,000.

Several other institutional investors have also modified their holdings of the stock. Community Bank N.A. purchased a new stake in Ciena in the third quarter valued at $25,000. Assetmark Inc. increased its position in Ciena by 50.4% during the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 67 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Ciena by 104.0% during the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 104 shares during the last quarter. Hilltop National Bank purchased a new stake in Ciena in the 4th quarter valued at $35,000. Finally, Root Financial Partners LLC purchased a new position in Ciena during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In other Ciena 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 transaction, the chief executive officer directly owned 272,509 shares in the company, valued at approximately $153,163,683.45. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $570.65, for a total transaction of $684,780.00. Following the sale, the senior vice president owned 43,941 shares of the company’s stock, valued at approximately $25,074,931.65. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 44,174 shares of company stock valued at $18,878,661. 0.58% of the stock is owned by company insiders.

Ciena Stock Performance

NYSE CIEN opened at $587.69 on Friday. The stock has a market capitalization of $83.10 billion, a price-to-earnings ratio of 374.33, a PEG ratio of 1.82 and a beta of 1.24. The business’s 50 day moving average is $473.40 and its two-hundred day moving average is $326.32. Ciena Corporation has a 12-month low of $70.77 and a 12-month high of $598.84. The company has a current ratio of 2.81, a quick ratio of 2.14 and a debt-to-equity ratio of 0.55.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. Research analysts expect that Ciena Corporation will post 5.12 EPS for the current year.

Analysts Set New Price Targets

CIEN has been the subject of several recent research reports. B. Riley Financial increased their target price on shares of Ciena from $222.00 to $283.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Stifel Nicolaus boosted their target price on Ciena from $430.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Bank of America upped their price target on Ciena from $355.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Rosenblatt Securities increased their price target on Ciena from $305.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, Barclays lifted their price objective on shares of Ciena from $279.00 to $372.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.83.

Ciena Profile

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.