World Investment Advisors Has $942,000 Stock Holdings in Ciena Corporation $CIEN

World Investment Advisors lifted its stake in shares of Ciena Corporation (NYSE:CIEN) by 33.0% during the fourth quarter, Holdings Channel reports. The firm owned 4,028 shares of the communications equipment provider’s stock after purchasing an additional 999 shares during the quarter. World Investment Advisors’ holdings in Ciena were worth $942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CIEN. Lone Pine Capital LLC purchased a new position in shares of Ciena during the third quarter valued at $292,310,000. Atreides Management LP purchased a new position in shares of Ciena during the second quarter valued at $102,705,000. JPMorgan Chase & Co. grew its holdings in shares of Ciena by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider’s stock valued at $941,451,000 after buying an additional 1,219,787 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock valued at $166,625,000 after buying an additional 1,093,557 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Ciena by 3,577.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,032,393 shares of the communications equipment provider’s stock valued at $83,965,000 after buying an additional 1,004,323 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Transactions at Ciena

In related news, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $537.74, for a total transaction of $1,587,408.48. Following the completion of the transaction, the chief executive officer owned 275,461 shares of the company’s stock, valued at approximately $148,126,398.14. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 22,014 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total value of $9,021,337.20. Following the transaction, the senior vice president directly owned 68 shares of the company’s stock, valued at $27,866.40. This represents a 99.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 42,974 shares of company stock worth $17,418,863. 0.58% of the stock is owned by corporate insiders.

Ciena Stock Performance

CIEN opened at $554.26 on Monday. The company has a market cap of $78.37 billion, a PE ratio of 353.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.24. The stock has a 50-day moving average of $454.25 and a 200-day moving average of $316.08. Ciena Corporation has a 52-week low of $70.77 and a 52-week high of $598.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.14 and a current ratio of 2.81.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.18. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The firm’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. As a group, equities research analysts forecast that Ciena Corporation will post 5.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CIEN shares. JPMorgan Chase & Co. lifted their price target on Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Needham & Company LLC lifted their price target on Ciena from $280.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Stifel Nicolaus lifted their price target on Ciena from $430.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Citigroup lifted their price target on Ciena from $280.00 to $345.00 and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $320.00 price target on shares of Ciena in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and a consensus price target of $381.44.

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.