Ciena Corp. SVP Sells $78,435 in Stock (CIEN)
Ciena Corp. (NASDAQ:CIEN) SVP Stephen B. Alexander unloaded 3,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $22.41, for a total transaction of $78,435.00. Following the completion of the sale, the senior vice president now directly owns 193,810 shares of the company’s stock, valued at approximately $4,343,282. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Ciena Corp. (NASDAQ:CIEN) traded down 0.84% on Thursday, hitting $22.46. 1,826,211 shares of the company’s stock traded hands. Ciena Corp. has a 1-year low of $14.14 and a 1-year high of $27.94. The stock has a 50-day moving average of $22.8 and a 200-day moving average of $23.16. The company’s market cap is $2.329 billion.
Ciena Corp. (NASDAQ:CIEN) last released its earnings data on Thursday, December 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.08. The company had revenue of $583.40 million for the quarter, compared to the consensus estimate of $568.51 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. Analysts expect that Ciena Corp. will post $0.89 EPS for the current fiscal year.
A number of research firms have recently commented on CIEN. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Ciena Corp. in a research note to investors on Friday, December 13th. They now have a $26.00 price target on the stock, down previously from $27.00. Separately, analysts at UBS AG cut their price target on shares of Ciena Corp. to $23.00 in a research note to investors on Friday, December 13th. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital upgraded shares of Ciena Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.31.
Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.