Insider Selling: Ciena SVP Sells 1,500 Shares of Stock (CIEN)
Ciena (NASDAQ:CIEN) SVP James Richard Dodd, Jr. sold 1,500 shares of the company’s stock on the open market in a transaction dated Thursday, June 19th. The stock was sold at an average price of $22.33, for a total transaction of $33,495.00. Following the completion of the transaction, the senior vice president now directly owns 119,741 shares of the company’s stock, valued at approximately $2,673,817. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ciena (NASDAQ:CIEN) traded down 0.85% on Monday, hitting $22.12. The stock had a trading volume of 1,151,364 shares. Ciena has a one year low of $18.00 and a one year high of $27.94. The stock’s 50-day moving average is $20.30 and its 200-day moving average is $22.13. The company’s market cap is $2.336 billion.
Ciena (NASDAQ:CIEN) last released its earnings data on Thursday, June 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Ciena will post $0.96 EPS for the current fiscal year.
A number of research firms have recently commented on CIEN. 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 given a hold rating and eleven have issued a buy rating to the company’s stock. Ciena has a consensus rating of “Buy” and a consensus price target of $27.88.
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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