Ciena Co. (NYSE:CIEN) Shares Acquired by Boothbay Fund Management LLC

Boothbay Fund Management LLC lifted its holdings in shares of Ciena Co. (NYSE:CIEN - Free Report) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,027 shares of the communications equipment provider's stock after purchasing an additional 27,782 shares during the quarter. Ciena comprises about 0.5% of Boothbay Fund Management LLC's investment portfolio, making the stock its 28th biggest position. Boothbay Fund Management LLC owned about 0.15% of Ciena worth $18,236,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ciena by 925.0% during the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 296 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 279 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Ciena by 73.7% in the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 151 shares during the last quarter. Finally, Atlas Capital Advisors Inc. boosted its holdings in Ciena by 77.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

Ciena Stock Up 1.3 %

Shares of CIEN traded up $0.84 during trading on Tuesday, reaching $67.32. The company's stock had a trading volume of 1,264,929 shares, compared to its average volume of 2,014,296. The company has a fifty day moving average of $65.62 and a two-hundred day moving average of $73.81. Ciena Co. has a twelve month low of $44.69 and a twelve month high of $101.44. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 118.11, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CIEN shares. Northland Securities upgraded Ciena from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Morgan Stanley reduced their target price on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their target price on Ciena from $88.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. B. Riley reiterated a "buy" rating and issued a $89.00 target price (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Finally, Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ciena currently has an average rating of "Moderate Buy" and a consensus target price of $77.62.

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $59.54, for a total value of $404,872.00. Following the transaction, the chief executive officer now directly owns 375,680 shares of the company's stock, valued at $22,367,987.20. This represents a 1.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jason Phipps sold 18,888 shares of the company's stock in a transaction that occurred on 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 directly owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,288 shares of company stock valued at $3,299,980 in the last three months. Corporate insiders own 0.93% of the company's stock.

Ciena 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.