Capital Fund Management S.A. boosted its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 37.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,737 shares of the communications equipment provider's stock after buying an additional 44,844 shares during the quarter. Capital Fund Management S.A. owned approximately 0.12% of Ciena worth $13,971,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Stephens Investment Management Group LLC acquired a new stake in Ciena in the 4th quarter valued at $56,997,000. Keystone Investors PTE Ltd. purchased a new stake in shares of Ciena in the 4th quarter valued at approximately $45,341,000. Arrowstreet Capital Limited Partnership lifted its holdings in Ciena by 4,484.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 529,555 shares of the communications equipment provider's stock valued at $44,912,000 after acquiring an additional 518,003 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Ciena during the fourth quarter worth about $40,919,000. Finally, Primecap Management Co. CA increased its stake in Ciena by 263.7% during the fourth quarter. Primecap Management Co. CA now owns 463,680 shares of the communications equipment provider's stock worth $39,325,000 after purchasing an additional 336,180 shares during the period. 91.99% of the stock is owned by institutional investors.
Ciena Price Performance
NYSE:CIEN traded up $0.90 during mid-day trading on Tuesday, reaching $59.40. The stock had a trading volume of 1,232,691 shares, compared to its average volume of 2,014,985. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The stock has a market capitalization of $8.44 billion, a PE ratio of 104.21, a P/E/G ratio of 1.54 and a beta of 1.15. The stock has a 50-day simple moving average of $71.16 and a two-hundred day simple moving average of $74.08.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CIEN. Northland Securities upgraded Ciena from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Rosenblatt Securities lowered their price target on shares of Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Morgan Stanley decreased their price target on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Needham & Company LLC decreased their price target on shares of Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised shares of Ciena from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.62.
Get Our Latest Stock Analysis on Ciena
Insiders Place Their Bets
In other news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction 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 sale, the senior vice president now owns 89,258 shares in the company, valued at $5,344,769.04. The trade was a 17.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David M. Rothenstein sold 2,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the transaction, the senior vice president now directly owns 207,370 shares in the company, valued at $14,283,645.60. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,288 shares of company stock valued at $3,484,670 in the last 90 days. Corporate insiders own 0.93% of the company's stock.
Ciena Company 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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