Ciena CFO James E. Moylan, Jr. Sells 1,000 Shares (CIEN)
Ciena (NASDAQ:CIEN) CFO James E. Moylan, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $20.50, for a total transaction of $20,500.00. Following the completion of the transaction, the chief financial officer now directly owns 369,337 shares of the company’s stock, valued at approximately $7,571,409. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Ciena (NASDAQ:CIEN) remained flat at $19.90 during during mid-day trading trading on Friday. The stock had a trading volume of 1,285,359 shares. 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 $21.29 and its 200-day moving average is $21.94. The company’s market cap is $2.101 billion.
Ciena (NASDAQ:CIEN) last announced its earnings results 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. Analysts expect that Ciena will post $0.96 EPS for the current fiscal year.
A number of analysts have recently weighed in on CIEN shares. 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. The company 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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