Andrew C. Petrik Sells 590 Shares of Ciena Corporation (CIEN) Stock

Ciena Corporation (NYSE:CIEN) VP Andrew C. Petrik sold 590 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $21.25, for a total transaction of $12,537.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Andrew C. Petrik also recently made the following trade(s):

  • On Friday, September 15th, Andrew C. Petrik sold 1,251 shares of Ciena Corporation stock. The shares were sold at an average price of $21.60, for a total transaction of $27,021.60.
  • On Tuesday, August 15th, Andrew C. Petrik sold 1,258 shares of Ciena Corporation stock. The shares were sold at an average price of $24.44, for a total transaction of $30,745.52.

Ciena Corporation (NYSE:CIEN) traded up 0.89% during midday trading on Friday, hitting $21.57. The stock had a trading volume of 2,165,675 shares. The stock has a market cap of $3.08 billion, a P/E ratio of 23.60 and a beta of 1.68. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The company has a 50-day moving average price of $23.44 and a 200-day moving average price of $24.06.

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

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Several research firms recently weighed in on CIEN. UBS AG reissued a “buy” rating and issued a $31.00 target price (up from $29.00) on shares of Ciena Corporation in a research note on Monday, June 5th. B. Riley reissued a “buy” rating and issued a $34.00 target price on shares of Ciena Corporation in a research note on Sunday, June 4th. ValuEngine cut shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Nomura reissued a “buy” rating and issued a $28.00 target price on shares of Ciena Corporation in a research note on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $32.00 target price (up from $28.00) on shares of Ciena Corporation in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Ciena Corporation currently has an average rating of “Buy” and a consensus target price of $29.79.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Ciena Corporation by 11,733.7% during the 1st quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock worth $371,979,000 after purchasing an additional 15,622,062 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Ciena Corporation by 36.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 8,553,894 shares of the communications equipment provider’s stock worth $201,957,000 after purchasing an additional 2,283,352 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ciena Corporation by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock worth $289,534,000 after purchasing an additional 1,235,744 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in Ciena Corporation during the 2nd quarter worth about $28,400,000. Finally, FIL Ltd purchased a new stake in Ciena Corporation during the 2nd quarter worth about $23,010,000.

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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