Ciena Co. (NYSE:CIEN) VP Sells $88,600.00 in Stock

Ciena Co. (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

David M. Rothenstein also recently made the following trade(s):

  • On Tuesday, June 18th, David M. Rothenstein sold 2,000 shares of Ciena stock. The shares were sold at an average price of $43.57, for a total transaction of $87,140.00.

NYSE:CIEN opened at $43.04 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.83 and a quick ratio of 2.36. The company’s 50-day simple moving average is $42.36. Ciena Co. has a twelve month low of $25.18 and a twelve month high of $46.23. The stock has a market cap of $6.80 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.46 and a beta of 1.13.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. During the same period last year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, sell-side analysts predict that Ciena Co. will post 1.74 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of Ciena during the 1st quarter worth about $37,000. Investors Research Corp acquired a new stake in shares of Ciena during the 1st quarter worth about $39,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Ciena during the 1st quarter worth about $57,000. Mascoma Wealth Management LLC boosted its stake in shares of Ciena by 175.4% during the 1st quarter. Mascoma Wealth Management LLC now owns 1,570 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Ciena by 79.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,768 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 783 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on CIEN shares. Jefferies Financial Group increased their price target on shares of Avid Technology from $6.50 to $8.50 and gave the company a “hold” rating in a report on Friday, June 7th. Goldman Sachs Group started coverage on shares of HubSpot in a report on Friday, June 7th. They issued a “buy” rating and a $223.00 price target for the company. B. Riley set a $2.00 price target on shares of Kirkland’s and gave the company a “hold” rating in a report on Friday, June 7th. JPMorgan Chase & Co. downgraded shares of Ciena from a “neutral” rating to an “underweight” rating in a report on Monday, April 22nd. Finally, Stifel Nicolaus raised their target price on shares of Vail Resorts from $219.00 to $230.00 and gave the company a “hold” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $46.65.

About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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