Gary B. Smith Sells 8,000 Shares of Ciena Corporation (CIEN) Stock

Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $24.20, for a total value of $193,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Gary B. Smith also recently made the following trade(s):

  • On Wednesday, July 26th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $26.25, for a total value of $105,000.00.
  • On Thursday, July 27th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $26.07, for a total value of $208,560.00.
  • On Monday, July 10th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.84, for a total value of $103,360.00.
  • On Tuesday, July 11th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.87, for a total value of $206,960.00.
  • On Wednesday, June 21st, Gary B. Smith sold 12,558 shares of Ciena Corporation stock. The shares were sold at an average price of $25.31, for a total value of $317,842.98.

Ciena Corporation (NYSE CIEN) opened at 24.32 on Wednesday. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The stock has a market capitalization of $3.45 billion, a P/E ratio of 32.13 and a beta of 1.61. The firm has a 50 day moving average price of $25.47 and a 200 day moving average price of $24.50.

Ciena Corporation (NYSE:CIEN) last posted its earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The company had revenue of $707.02 million during the quarter, compared to analyst estimates of $694.84 million. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. Equities research analysts predict that Ciena Corporation will post $1.77 earnings per share for the current year.

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CIEN has been the topic of a number of recent analyst reports. Dougherty & Co increased their price objective on Ciena Corporation from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 2nd. ValuEngine upgraded Ciena Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. TheStreet upgraded Ciena Corporation from a “c+” rating to a “b” rating in a report on Monday, June 19th. Deutsche Bank AG downgraded Ciena Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $24.35 to $23.00 in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $32.50 price objective (up previously from $29.00) on shares of Ciena Corporation in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $30.19.

Several institutional investors have recently bought and sold shares of CIEN. Koch Industries Inc. bought a new position in Ciena Corporation during the second quarter valued at approximately $235,000. Verition Fund Management LLC raised its position in Ciena Corporation by 48.4% in the second quarter. Verition Fund Management LLC now owns 31,899 shares of the communications equipment provider’s stock valued at $798,000 after buying an additional 10,399 shares during the period. Ameritas Investment Partners Inc. raised its position in Ciena Corporation by 2.5% in the second quarter. Ameritas Investment Partners Inc. now owns 54,813 shares of the communications equipment provider’s stock valued at $1,371,000 after buying an additional 1,328 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Ciena Corporation by 11.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,091 shares of the communications equipment provider’s stock valued at $653,000 after buying an additional 2,628 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Ciena Corporation by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 311,990 shares of the communications equipment provider’s stock valued at $7,806,000 after buying an additional 6,274 shares during the period.

Ciena Corporation Company Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Insider Buying and Selling by Quarter for Ciena Corporation (NYSE:CIEN)

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