Ciena Corporation (CIEN) VP David M. Rothenstein Sells 2,000 Shares
Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $25.02, for a total value of $50,040.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
David M. Rothenstein also recently made the following trade(s):
- On Tuesday, May 16th, David M. Rothenstein sold 2,000 shares of Ciena Corporation stock. The shares were sold at an average price of $24.19, for a total value of $48,380.00.
Shares of Ciena Corporation (NYSE CIEN) traded up 0.94% during mid-day trading on Monday, hitting $25.67. The stock had a trading volume of 807,674 shares. The firm has a market cap of $3.64 billion, a PE ratio of 33.91 and a beta of 1.71. Ciena Corporation has a 12 month low of $17.59 and a 12 month high of $27.98. The stock’s 50-day moving average is $24.33 and its 200 day moving average is $23.98.
Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $707.02 million during the quarter, compared to the consensus estimate of $694.84 million. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Equities research analysts predict that Ciena Corporation will post $1.77 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on CIEN shares. Instinet reaffirmed a “buy” rating and set a $27.00 target price on shares of Ciena Corporation in a research note on Saturday, March 11th. Cowen and Company reaffirmed an “outperform” rating and set a $35.00 target price on shares of Ciena Corporation in a research note on Monday, March 6th. MKM Partners reaffirmed a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research note on Wednesday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research note on Saturday, March 11th. Finally, Deutsche Bank AG cut their target price on Ciena Corporation from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, March 24th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Ciena Corporation currently has an average rating of “Buy” and a consensus price target of $30.05.
Institutional investors have recently modified their holdings of the company. Menta Capital LLC purchased a new position in shares of Ciena Corporation during the fourth quarter worth approximately $752,000. Shelton Capital Management increased its position in shares of Ciena Corporation by 49.6% in the fourth quarter. Shelton Capital Management now owns 16,842 shares of the communications equipment provider’s stock worth $275,000 after buying an additional 5,582 shares during the last quarter. Employees Retirement System of Texas purchased a new position in shares of Ciena Corporation during the fourth quarter worth approximately $1,440,000. Pacad Investment Ltd. purchased a new position in shares of Ciena Corporation during the fourth quarter worth approximately $495,000. Finally, Elkfork Partners LLC purchased a new position in shares of Ciena Corporation during the fourth quarter worth approximately $146,000.
Ciena Corporation Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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