Ciena Corporation (CIEN) VP James Frodsham Sells 2,000 Shares of Stock

Ciena Corporation (NYSE:CIEN) VP James Frodsham sold 2,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $22.00, for a total transaction of $44,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

James Frodsham also recently made the following trade(s):

  • On Monday, July 17th, James Frodsham sold 2,000 shares of Ciena Corporation stock. The stock was sold at an average price of $25.70, for a total transaction of $51,400.00.
  • On Wednesday, June 21st, James Frodsham sold 2,119 shares of Ciena Corporation stock. The stock was sold at an average price of $25.31, for a total transaction of $53,631.89.

Ciena Corporation (NYSE CIEN) opened at 22.08 on Wednesday. The stock has a market capitalization of $3.15 billion, a P/E ratio of 24.16 and a beta of 1.68. Ciena Corporation has a 1-year low of $18.94 and a 1-year high of $27.98. The stock has a 50 day moving average of $23.44 and a 200 day moving average of $24.06.

Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. On average, analysts expect that Ciena Corporation will post $1.74 earnings per share for the current year.

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A number of research firms have recently weighed in on CIEN. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Instinet reiterated a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. MKM Partners reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Ciena Corporation in a research note on Friday, June 2nd. Finally, B. Riley reiterated a “buy” rating and issued a $34.00 price objective on shares of Ciena Corporation in a research note on Sunday, June 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.79.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ciena Corporation by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 517 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Ciena Corporation in the 2nd quarter valued at about $134,000. Acadian Asset Management LLC acquired a new stake in Ciena Corporation in the 2nd quarter valued at about $159,000. Elkfork Partners LLC grew its stake in Ciena Corporation by 12.1% in the 1st quarter. Elkfork Partners LLC now owns 6,720 shares of the communications equipment provider’s stock valued at $159,000 after acquiring an additional 728 shares during the last quarter. Finally, TNB Financial acquired a new stake in Ciena Corporation in the 2nd quarter valued at about $200,000.

About Ciena Corporation

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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