Insider Selling: Ciena Corporation (CIEN) SVP Sells 1,000 Shares of Stock
Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of Ciena Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $24.44, for a total value of $24,440.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Scott Mcfeely also recently made the following trade(s):
- On Monday, July 17th, Scott Mcfeely sold 1,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.70, for a total value of $25,700.00.
Ciena Corporation (NYSE CIEN) traded down 2.53% during mid-day trading on Thursday, hitting $23.51. The company had a trading volume of 2,297,733 shares. The firm’s 50 day moving average is $25.43 and its 200 day moving average is $24.50. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 31.06 and a beta of 1.61.
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, beating the Zacks’ consensus estimate of $0.37 by $0.08. The business had revenue of $707.02 million for the quarter, compared to analysts’ expectations of $694.84 million. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. On average, equities research analysts predict that Ciena Corporation will post $1.77 EPS for the current year.
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A number of large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. purchased a new stake in shares of Ciena Corporation during the first quarter valued at about $106,000. Glen Harbor Capital Management LLC boosted its stake in shares of Ciena Corporation by 12.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,280 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 572 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ciena Corporation by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in shares of Ciena Corporation during the second quarter valued at about $134,000. Finally, Advisor Group Inc. boosted its stake in shares of Ciena Corporation by 6.4% in the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 604 shares during the period.
Several research analysts recently issued reports on the company. ValuEngine cut Ciena Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Northland Securities set a $32.00 target price on Ciena Corporation and gave the company a “buy” rating in a research report on Monday, August 7th. William Blair reaffirmed a “buy” rating on shares of Ciena Corporation in a research report on Thursday, August 3rd. Zacks Investment Research cut Ciena Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub cut Ciena Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Ciena Corporation currently has a consensus rating of “Buy” and a consensus target price of $30.19.
About Ciena Corporation
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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