Insider Selling: James E. Moylan, Jr. Sells 1,000 Shares of Ciena Corp. Stock (CIEN)
Ciena Corp. (NASDAQ:CIEN) CFO James E. Moylan, Jr. unloaded 1,000 shares of Ciena Corp. stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $22.41, for a total value of $22,410.00. Following the sale, the chief financial officer now directly owns 387,159 shares in the company, valued at approximately $8,676,233. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Ciena Corp. (NASDAQ:CIEN) traded down 0.79% on Thursday, hitting $22.47. 1,792,633 shares of the company’s stock traded hands. Ciena Corp. has a 52 week low of $14.14 and a 52 week 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 $2.330 billion.
Ciena Corp. (NASDAQ:CIEN) last issued its quarterly earnings data on Thursday, December 12th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters 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 last year, the company posted ($0.07) earnings per share. Ciena Corp.’s revenue was up 25.3% compared to the same quarter last year. On average, analysts predict that Ciena Corp. will post $0.89 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CIEN shares. 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 given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average 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.
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