F M Investments LLC acquired a new position in Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 22,624 shares of the communications equipment provider's stock, valued at approximately $1,919,000.
Other large investors have also modified their holdings of the company. Captrust Financial Advisors grew its holdings in shares of Ciena by 28.7% during the third quarter. Captrust Financial Advisors now owns 7,951 shares of the communications equipment provider's stock valued at $490,000 after buying an additional 1,775 shares in the last quarter. HighTower Advisors LLC grew its position in Ciena by 6.3% in the third quarter. HighTower Advisors LLC now owns 45,426 shares of the communications equipment provider's stock worth $2,777,000 after acquiring an additional 2,693 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Ciena by 11.9% during the third quarter. Quantinno Capital Management LP now owns 20,107 shares of the communications equipment provider's stock valued at $1,238,000 after purchasing an additional 2,137 shares during the last quarter. Stifel Financial Corp boosted its holdings in Ciena by 3.1% during the third quarter. Stifel Financial Corp now owns 105,774 shares of the communications equipment provider's stock valued at $6,515,000 after acquiring an additional 3,153 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Ciena in the third quarter valued at approximately $627,000. 91.99% of the stock is owned by institutional investors.
Ciena Stock Down 0.6 %
Shares of NYSE CIEN traded down $0.34 during midday trading on Wednesday, hitting $59.04. 1,003,843 shares of the stock traded hands, compared to its average volume of 2,010,973. The business has a 50 day moving average price of $70.49 and a two-hundred day moving average price of $73.97. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. The company has a market cap of $8.39 billion, a PE ratio of 103.58, a P/E/G ratio of 1.54 and a beta of 1.15.
Insider Activity
In other news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the completion of the transaction, the senior vice president now owns 89,258 shares in the company, valued at $5,344,769.04. This trade represents a 17.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $84.86, for a total transaction of $577,048.00. Following the sale, the chief executive officer now owns 412,149 shares in the company, valued at $34,974,964.14. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,138 shares of company stock worth $2,874,629 over the last three months. 0.93% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Morgan Stanley cut their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Barclays set a $100.00 price target on Ciena and gave the company an "overweight" rating in a research note on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Citigroup lowered their price objective on Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday. Finally, B. Riley restated a "buy" rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $79.62.
View Our Latest Research Report on CIEN
Ciena Profile
(
Free Report)
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.
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