Insider Selling: Ciena Corporation (CIEN) SVP Sells 1,000 Shares of Stock
Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $21.51, for a total transaction of $21,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Scott Mcfeely also recently made the following trade(s):
- On Friday, September 15th, Scott Mcfeely sold 1,000 shares of Ciena Corporation stock. The shares were sold at an average price of $21.60, for a total transaction of $21,600.00.
- On Tuesday, August 15th, Scott Mcfeely sold 1,000 shares of Ciena Corporation stock. The shares were sold at an average price of $24.44, for a total transaction of $24,440.00.
Ciena Corporation (NYSE CIEN) traded down 0.19% during mid-day trading on Tuesday, reaching $21.25. 4,313,644 shares of the company traded hands. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 23.25 and a beta of 1.70. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98. The company’s 50-day moving average is $22.05 and its 200-day moving average is $23.80.
Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities analysts predict that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on CIEN shares. Citigroup Inc. upgraded shares of Ciena Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.87 to $29.00 in a report on Wednesday, August 30th. Nomura dropped their price objective on shares of Ciena Corporation from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 price objective on shares of Ciena Corporation in a report on Thursday, August 31st. Zacks Investment Research downgraded shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, UBS AG set a $31.00 target price on shares of Ciena Corporation and gave the company a “buy” rating in a research report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.53.
A number of hedge funds have recently modified their holdings of CIEN. BlackRock Inc. grew its stake in Ciena Corporation by 11,733.7% in the first quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock worth $371,979,000 after purchasing an additional 15,622,062 shares during the period. Vanguard Group Inc. grew its stake in Ciena Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock worth $289,534,000 after purchasing an additional 1,235,744 shares during the period. Artemis Investment Management LLP purchased a new stake in Ciena Corporation in the second quarter worth $28,400,000. FIL Ltd purchased a new stake in Ciena Corporation in the second quarter worth $23,010,000. Finally, Teachers Advisors LLC grew its stake in Ciena Corporation by 21.1% in the first quarter. Teachers Advisors LLC now owns 4,900,040 shares of the communications equipment provider’s stock worth $115,690,000 after purchasing an additional 853,793 shares during the period.
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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