Ciena Co. (NYSE:CIEN) CFO Sells $99,740.00 in Stock

Ciena Co. (NYSE:CIEN) CFO James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $49.87, for a total transaction of $99,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Monday, March 8th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $49.37, for a total transaction of $98,740.00.

Ciena stock opened at $51.74 on Monday. The firm has a market capitalization of $8.02 billion, a PE ratio of 22.30, a P/E/G ratio of 1.41 and a beta of 0.85. The company’s 50-day moving average is $54.42 and its 200-day moving average is $51.26. Ciena Co. has a fifty-two week low of $38.03 and a fifty-two week high of $61.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.43 and a quick ratio of 2.98.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Wednesday, March 3rd. The communications equipment provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $757.10 million for the quarter, compared to analyst estimates of $750.24 million. Ciena had a net margin of 10.23% and a return on equity of 17.41%. Ciena’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. As a group, analysts expect that Ciena Co. will post 2.36 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Ciena by 8.9% in the 4th quarter. BlackRock Inc. now owns 14,792,049 shares of the communications equipment provider’s stock valued at $781,761,000 after buying an additional 1,206,685 shares during the last quarter. Primecap Management Co. CA grew its stake in Ciena by 32.3% in the 4th quarter. Primecap Management Co. CA now owns 113,510 shares of the communications equipment provider’s stock valued at $5,999,000 after buying an additional 27,700 shares during the last quarter. Retirement Systems of Alabama grew its stake in Ciena by 7.6% in the 1st quarter. Retirement Systems of Alabama now owns 442,998 shares of the communications equipment provider’s stock valued at $24,241,000 after buying an additional 31,367 shares during the last quarter. GoalVest Advisory LLC acquired a new position in Ciena in the 4th quarter valued at about $2,189,000. Finally, FDx Advisors Inc. grew its stake in Ciena by 17.5% in the 1st quarter. FDx Advisors Inc. now owns 9,475 shares of the communications equipment provider’s stock valued at $518,000 after buying an additional 1,411 shares during the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

Several research firms recently commented on CIEN. Colliers Securities reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Ciena in a research report on Friday, March 5th. Citigroup boosted their price objective on shares of Ciena from $55.00 to $65.00 in a research report on Thursday, February 25th. Rosenblatt Securities boosted their price objective on shares of Ciena from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, March 8th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research report on Thursday, January 21st. Finally, Raymond James boosted their price objective on shares of Ciena from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, March 4th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $59.08.

About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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