Kestra Private Wealth Services LLC Invests $1.13 Million in Ciena Co. (NYSE:CIEN)

Kestra Private Wealth Services LLC acquired a new position in shares of Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,315 shares of the communications equipment provider's stock, valued at approximately $1,129,000.

A number of other large investors have also recently bought and sold shares of CIEN. Versant Capital Management Inc lifted its position in Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 296 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Ciena by 152.8% during the third quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider's stock valued at $52,000 after buying an additional 512 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Ciena during the fourth quarter worth approximately $59,000. UMB Bank n.a. increased its position in Ciena by 59.2% in the 4th quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider's stock valued at $61,000 after acquiring an additional 267 shares during the period. Finally, Blue Trust Inc. raised its stake in Ciena by 241.5% during the 3rd quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider's stock valued at $88,000 after acquiring an additional 1,007 shares in the last quarter. Institutional investors own 91.99% of the company's stock.

Ciena Trading Up 0.7 %

CIEN stock traded up $0.60 during mid-day trading on Monday, reaching $89.45. 1,518,093 shares of the stock traded hands, compared to its average volume of 2,759,345. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44. The stock's fifty day moving average is $86.06 and its 200-day moving average is $70.32. The company has a market cap of $12.71 billion, a P/E ratio of 156.93, a P/E/G ratio of 1.66 and a beta of 0.88. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Ciena (NYSE:CIEN - Get Free Report) last issued its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). Ciena had a net margin of 2.09% and a return on equity of 4.72%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the company posted $0.56 EPS. The firm's revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Ciena Co. will post 1.6 earnings per share for the current year.

Analysts Set New Price Targets

CIEN has been the topic of a number of research analyst reports. Rosenblatt Securities raised their price target on Ciena from $75.00 to $94.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Morgan Stanley cut shares of Ciena from an "overweight" rating to an "equal weight" rating and set a $63.00 target price on the stock. in a research note on Monday, October 28th. Citigroup increased their price objective on shares of Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a report on Friday, December 13th. Needham & Company LLC reissued a "buy" rating and set a $95.00 target price on shares of Ciena in a report on Friday, January 10th. Finally, Bank of America raised Ciena from a "neutral" rating to a "buy" rating and increased their price target for the company from $70.00 to $95.00 in a research note on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $78.77.

Insider Activity

In other Ciena news, Director Bruce L. Claflin sold 16,912 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the transaction, the director now owns 59,347 shares in the company, valued at $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David M. Rothenstein sold 3,500 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $89.09, for a total value of $311,815.00. Following the completion of the sale, the senior vice president now directly owns 192,997 shares of the company's stock, valued at approximately $17,194,102.73. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,292 shares of company stock worth $4,786,620. 0.83% of the stock is owned by corporate insiders.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.