Ciena SVP Unloads $77,805 in Stock (CIEN)
Ciena (NASDAQ:CIEN) SVP Stephen B. Alexander unloaded 3,500 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $22.23, for a total value of $77,805.00. Following the transaction, the senior vice president now directly owns 173,214 shares of the company’s stock, valued at approximately $3,850,547. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of Ciena from $32.00 to $31.00 in a research note on Friday, June 6th. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Ciena in a research note on Thursday, June 5th. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ciena in a research note on Tuesday, June 3rd. They now have a $22.00 price target on the stock, down previously from $25.00. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.88.
Ciena (NASDAQ:CIEN) traded down 1.07% during mid-day trading on Wednesday, hitting $22.27. The stock had a trading volume of 2,056,222 shares. Ciena has a 1-year low of $18.00 and a 1-year high of $27.94. The stock has a 50-day moving average of $20.08 and a 200-day moving average of $22.12. The company’s market cap is $2.352 billion.
Ciena (NASDAQ:CIEN) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.04. The company had revenue of $560.10 million for the quarter, compared to the consensus estimate of $559.18 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts predict that Ciena will post $0.96 earnings per share for the current fiscal year.
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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