Ciena VP Sells $122,421 in Stock (CIEN)
Ciena (NASDAQ:CIEN) VP Andrew C. Petrik sold 5,694 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $21.50, for a total transaction of $122,421.00. Following the sale, the vice president now directly owns 42,956 shares of the company’s stock, valued at approximately $923,554. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Ciena (NASDAQ:CIEN) traded up 0.28% during mid-day trading on Thursday, hitting $21.59. 2,415,229 shares of the company’s stock traded hands. Ciena has a 52 week low of $18.00 and a 52 week high of $27.94. The stock’s 50-day moving average is $20.53 and its 200-day moving average is $22.10. The company’s market cap is $2.280 billion.
Ciena (NASDAQ:CIEN) last released its earnings data on Thursday, June 5th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.02 earnings per share. Ciena’s revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that Ciena will post $0.96 earnings per share for the current fiscal year.
CIEN has been the subject of a number of recent research reports. 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Ciena currently has an average 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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