Ciena SVP Unloads $67,130 in Stock (CIEN)
Ciena (NASDAQ:CIEN) SVP Stephen B. Alexander unloaded 3,500 shares of Ciena stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $19.18, for a total transaction of $67,130.00. Following the completion of the sale, the senior vice president now directly owns 163,097 shares of the company’s stock, valued at approximately $3,128,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Ciena currently has an average rating of “Buy” and a consensus price target of $28.27.
Ciena (NASDAQ:CIEN) traded up 2.44% on Monday, hitting $19.28. The stock had a trading volume of 1,827,881 shares. Ciena has a 1-year low of $18.00 and a 1-year high of $27.94. The stock’s 50-day moving average is $20.11 and its 200-day moving average is $21.43. The company’s market cap is $2.036 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. Analysts expect that Ciena will post $0.96 EPS 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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