Ciena Corporation $CIEN Position Decreased by Coyle Financial Counsel LLC

Coyle Financial Counsel LLC cut its position in shares of Ciena Corporation (NYSE:CIEN) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,424 shares of the communications equipment provider’s stock after selling 1,454 shares during the quarter. Ciena accounts for 0.5% of Coyle Financial Counsel LLC’s portfolio, making the stock its 26th largest position. Coyle Financial Counsel LLC’s holdings in Ciena were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank acquired a new position in shares of Ciena in the fourth quarter worth about $35,000. Community Bank N.A. acquired a new position in shares of Ciena in the third quarter worth about $25,000. Assetmark Inc. boosted its holdings in shares of Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 67 shares during the period. Wolff Wiese Magana LLC acquired a new position in shares of Ciena in the fourth quarter worth about $47,000. Finally, Ameritas Advisory Services LLC boosted its holdings in shares of Ciena by 104.0% in the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 104 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the transaction, the senior vice president owned 46,341 shares in the company, valued at $18,768,105. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary B. Smith sold 2,952 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $415.51, for a total value of $1,226,585.52. Following the transaction, the chief executive officer owned 281,365 shares in the company, valued at approximately $116,909,971.15. This trade represents a 1.04% decrease in their position. 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 quarter, insiders have sold 44,174 shares of company stock valued at $18,878,661. 0.58% of the stock is currently owned by corporate insiders.

Ciena Price Performance

Shares of CIEN opened at $580.59 on Friday. The firm has a market cap of $82.09 billion, a PE ratio of 369.80, a PEG ratio of 1.87 and a beta of 1.24. The firm’s 50 day moving average price is $500.69 and its 200 day moving average price is $341.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.14 and a current ratio of 2.81. Ciena Corporation has a twelve month low of $70.77 and a twelve month high of $605.61.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.18. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. As a group, research analysts expect that Ciena Corporation will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CIEN shares. Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Friday, March 13th. Weiss Ratings upgraded shares of Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. JPMorgan Chase & Co. raised their target price on shares of Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Evercore set a $330.00 target price on shares of Ciena in a report on Thursday, February 19th. Finally, Rosenblatt Securities raised their target price on shares of Ciena from $305.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $406.61.

Ciena Company Profile

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.