Ciena CFO Sells $20,000 in Stock (CIEN)
Ciena (NASDAQ:CIEN) CFO James E. Moylan, Jr. unloaded 1,000 shares of Ciena stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $20.00, for a total value of $20,000.00. Following the completion of the sale, the chief financial officer now directly owns 368,337 shares in the company, valued at approximately $7,366,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Ciena (NASDAQ:CIEN) traded down 2.30% on Friday, hitting $19.08. 700,260 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 $21.04 and its 200-day moving average is $21.6. The company’s market cap is $2.015 billion.
Ciena (NASDAQ:CIEN) last announced its earnings results 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. On average, analysts predict that Ciena will post $0.96 earnings per share for the current fiscal year.
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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price 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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