Ciena SVP Sells $28,185 in Stock (CIEN)
Ciena (NASDAQ:CIEN) SVP James Richard Dodd, Jr. sold 1,500 shares of the stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $18.79, for a total transaction of $28,185.00. Following the transaction, the senior vice president now directly owns 113,554 shares in the company, valued at approximately $2,133,680. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Ciena (NASDAQ:CIEN) opened at 19.27 on Wednesday. Ciena has a 1-year low of $18.00 and a 1-year high of $27.94. The stock has a 50-day moving average of $19.9 and a 200-day moving average of $21.35. The company’s market cap is $2.035 billion.
Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue 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 RBC Capital cut their price target on shares of Ciena from $24.00 to $21.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. Separately, analysts at Zacks downgraded shares of Ciena from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $20.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Ciena has a consensus rating of “Buy” and a consensus price target of $27.31.
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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