Rockefeller Capital Management L.P. Boosts Stock Holdings in Ciena Corporation $CIEN

Rockefeller Capital Management L.P. grew its stake in shares of Ciena Corporation (NYSE:CIEN) by 126.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,413 shares of the communications equipment provider’s stock after buying an additional 4,691 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Ciena were worth $1,968,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CIEN. Parallel Advisors LLC grew its position in Ciena by 0.8% during the 4th quarter. Parallel Advisors LLC now owns 5,107 shares of the communications equipment provider’s stock worth $1,194,000 after acquiring an additional 43 shares during the last quarter. Transamerica Financial Advisors LLC lifted its position in Ciena by 71.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Ciena by 2.9% during the fourth quarter. UMB Bank n.a. now owns 1,629 shares of the communications equipment provider’s stock valued at $381,000 after purchasing an additional 46 shares during the period. Truvestments Capital LLC boosted its stake in shares of Ciena by 45.3% during the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 48 shares during the period. Finally, Kera Capital Partners Inc. boosted its stake in shares of Ciena by 2.7% during the fourth quarter. Kera Capital Partners Inc. now owns 2,026 shares of the communications equipment provider’s stock valued at $510,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Activity at Ciena

In other news, CFO Marc D. Graff sold 126 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $449.36, for a total value of $56,619.36. Following the completion of the transaction, the chief financial officer owned 127,081 shares in the company, valued at $57,105,118.16. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of Ciena stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $457.02, for a total value of $1,349,123.04. Following the sale, the chief executive officer owned 266,605 shares in the company, valued at $121,843,817.10. This represents a 1.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 17,120 shares of company stock valued at $8,872,766. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CIEN shares. Morgan Stanley lifted their target price on shares of Ciena from $405.00 to $490.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Raymond James Financial raised their price target on shares of Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Northland Securities set a $450.00 price objective on shares of Ciena in a research report on Friday, June 5th. UBS Group upped their price objective on shares of Ciena from $285.00 to $508.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Finally, Citigroup increased their target price on shares of Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $530.56.

Ciena Stock Up 2.4%

Shares of Ciena stock opened at $490.47 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $517.86 and its two-hundred day simple moving average is $386.41. The company has a market cap of $69.43 billion, a P/E ratio of 163.49 and a beta of 1.24. Ciena Corporation has a 12-month low of $76.89 and a 12-month high of $637.51.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. Research analysts anticipate that Ciena Corporation will post 5.4 EPS for the current year.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.