Insider Selling: Ciena CFO Sells 1,000 Shares of Stock (CIEN)
Ciena (NASDAQ:CIEN) CFO James E. Moylan, Jr. sold 1,000 shares of Ciena stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $20.88, for a total transaction of $20,880.00. Following the sale, the chief financial officer now directly owns 367,337 shares in the company, valued at approximately $7,669,997. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Ciena (NASDAQ:CIEN) traded down 0.63% during mid-day trading on Thursday, hitting $20.47. 1,526,036 shares of the company’s stock traded hands. 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 $19.73 and its 200-day moving average is $21.26. The company’s market cap is $2.161 billion. Ciena also was the target of some unusual options trading on Wednesday. Traders acquired 9,556 put options on the stock. This represents an increase of approximately 566% compared to the average volume of 1,434 put options.
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 $0.95 EPS for the current fiscal year.
A number of analysts have recently weighed in on CIEN shares. Analysts at RBC Capital cut their price target on shares of Ciena from $24.00 to $21.00 in a research note on Tuesday, August 19th. 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, August 18th. 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price 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.
Receive News & Ratings for Ciena Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Co and related companies with Analyst Ratings Network's FREE daily email newsletter.