Ciena Corporation $CIEN Shares Purchased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft boosted its position in shares of Ciena Corporation (NYSE:CIEN) by 15.7% during the first quarter, Holdings Channel reports. The firm owned 13,582 shares of the communications equipment provider’s stock after buying an additional 1,844 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Ciena were worth $5,259,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CIEN. Transamerica Financial Advisors LLC increased its position in shares of 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 buying an additional 44 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Ciena during the 4th quarter worth $35,000. Truvestments Capital LLC boosted its position in shares of Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 48 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Ciena by 635.7% in the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after buying an additional 89 shares in the last quarter. Finally, Acumen Wealth Advisors LLC acquired a new stake in Ciena in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In other news, SVP Joseph Cumello sold 1,586 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $466.33, for a total value of $739,599.38. Following the completion of the transaction, the senior vice president owned 42,872 shares of the company’s stock, valued at $19,992,499.76. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Marc D. Graff sold 126 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total transaction of $58,741.20. Following the completion of the transaction, the chief financial officer directly owned 126,955 shares of the company’s stock, valued at approximately $59,186,421. This represents a 0.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,627 shares of company stock valued at $10,974,985. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stifel Nicolaus set a $615.00 target price on shares of Ciena in a report on Friday, May 29th. Barclays upped their price target on shares of Ciena from $372.00 to $607.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Needham & Company LLC reissued a “buy” rating and set a $600.00 price objective on shares of Ciena in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. raised their price objective on shares of Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, Rothschild & Co Redburn initiated coverage on Ciena in a research report on Friday, May 1st. They set a “neutral” rating and a $416.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.56.

Ciena Stock Up 1.0%

CIEN opened at $378.31 on Tuesday. The firm has a market cap of $53.55 billion, a P/E ratio of 126.10 and a beta of 1.27. The business’s fifty day simple moving average is $491.11 and its 200 day simple moving average is $405.90. Ciena Corporation has a 52 week low of $83.20 and a 52 week high of $637.51. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.18. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, equities research analysts anticipate that Ciena Corporation will post 5.4 EPS for the current fiscal 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.