Insider Selling: Ciena Co. (NYSE:CIEN) Director Sells 2,000 Shares of Stock

Ciena Co. (NYSE:CIEN) Director Thomas Michael Nevens sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $43.40, for a total value of $86,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Thomas Michael Nevens also recently made the following trade(s):

  • On Monday, May 13th, Thomas Michael Nevens sold 7,000 shares of Ciena stock. The stock was sold at an average price of $34.24, for a total value of $239,680.00.

NYSE CIEN traded up $0.08 during trading on Friday, hitting $44.08. 1,910,454 shares of the company traded hands, compared to its average volume of 2,837,397. Ciena Co. has a 12 month low of $25.18 and a 12 month high of $46.23. The business’s fifty day simple moving average is $40.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.83 and a quick ratio of 2.36. The company has a market cap of $6.82 billion, a P/E ratio of 39.36, a P/E/G ratio of 1.44 and a beta of 1.13.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The company had revenue of $865.00 million for the quarter, compared to analyst estimates of $818.23 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts predict that Ciena Co. will post 1.72 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. boosted its position in Ciena by 12.8% in the 4th quarter. Prudential Financial Inc. now owns 110,090 shares of the communications equipment provider’s stock worth $3,733,000 after purchasing an additional 12,505 shares in the last quarter. LPL Financial LLC boosted its position in Ciena by 170.4% in the 4th quarter. LPL Financial LLC now owns 32,380 shares of the communications equipment provider’s stock worth $1,098,000 after purchasing an additional 20,406 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Ciena by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,554 shares of the communications equipment provider’s stock worth $1,139,000 after purchasing an additional 723 shares in the last quarter. Raymond James & Associates boosted its position in Ciena by 626.7% in the 4th quarter. Raymond James & Associates now owns 106,894 shares of the communications equipment provider’s stock worth $3,625,000 after purchasing an additional 92,185 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Ciena in the 4th quarter worth approximately $245,000. Institutional investors own 92.91% of the company’s stock.

Several analysts have recently commented on the company. Rosenblatt Securities reaffirmed a “hold” rating and issued a $38.00 target price on shares of Ciena in a research report on Monday, June 3rd. JPMorgan Chase & Co. cut Ciena from a “neutral” rating to an “underweight” rating in a research report on Monday, April 22nd. Goldman Sachs Group initiated coverage on HubSpot in a research report on Friday, June 7th. They issued a “buy” rating and a $223.00 target price for the company. Piper Jaffray Companies increased their price objective on Ciena from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, June 6th. Finally, TheStreet lowered Tilly’s from a “b-” rating to a “c+” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $45.83.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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