3,863 Shares in Ciena Co. (NYSE:CIEN) Acquired by Choreo LLC

Choreo LLC bought a new stake in shares of Ciena Co. (NYSE:CIEN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,863 shares of the communications equipment provider's stock, valued at approximately $328,000.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 296 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Ciena in the 4th quarter worth about $59,000. UMB Bank n.a. lifted its stake in Ciena by 59.2% in the 4th quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider's stock worth $61,000 after acquiring an additional 267 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Ciena by 152.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider's stock worth $52,000 after acquiring an additional 512 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Ciena by 241.5% in the 3rd quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider's stock worth $88,000 after acquiring an additional 1,007 shares in the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ciena

In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the sale, the senior vice president now owns 49,547 shares of the company's stock, valued at approximately $4,256,582.77. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $84.86, for a total value of $577,048.00. Following the sale, the chief executive officer now directly owns 412,149 shares in the company, valued at $34,974,964.14. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,292 shares of company stock valued at $4,786,620 in the last 90 days. 0.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CIEN has been the subject of a number of recent research reports. Morgan Stanley downgraded Ciena from an "overweight" rating to an "equal weight" rating and set a $63.00 price target for the company. in a research note on Monday, October 28th. Northland Securities raised their price target on Ciena from $46.00 to $60.00 and gave the stock a "market perform" rating in a research note on Friday, December 13th. Stifel Nicolaus reaffirmed a "buy" rating and set a $82.00 price target (up from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Rosenblatt Securities raised their price target on Ciena from $75.00 to $94.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Finally, Citigroup raised their price target on Ciena from $84.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $78.77.

Ciena Stock Up 0.7 %

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

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

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.