Geode Capital Management LLC Has $205.30 Million Position in Ciena Co. (NYSE:CIEN)

Geode Capital Management LLC boosted its stake in Ciena Co. (NYSE:CIEN - Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,419,947 shares of the communications equipment provider's stock after purchasing an additional 11,933 shares during the quarter. Geode Capital Management LLC owned about 1.70% of Ciena worth $205,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CIEN. Versant Capital Management Inc boosted its position 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock worth $30,000 after buying an additional 279 shares during the period. Picton Mahoney Asset Management bought a new position in Ciena during the fourth quarter worth about $41,000. Parkside Financial Bank & Trust grew its stake in Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider's stock valued at $44,000 after acquiring an additional 418 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Ciena by 394.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider's stock worth $46,000 after acquiring an additional 442 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

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Analyst Upgrades and Downgrades

CIEN has been the topic of several recent analyst reports. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded shares of Ciena from a "neutral" rating to an "overweight" rating and upped their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Citigroup increased their price objective on shares of Ciena from $84.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Morgan Stanley cut their price objective on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities lowered their target price on Ciena from $94.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating, nine have given 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 an average target price of $81.38.

Insider Buying and Selling

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 completion of the transaction, the senior vice president now directly owns 49,547 shares in the company, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jason Phipps sold 18,888 shares of the 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 approximately $5,344,769.04. This trade represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,288 shares of company stock worth $3,484,670. Insiders own 0.93% of the company's stock.

Ciena Stock Up 0.6 %

Shares of Ciena stock traded up $0.34 on Friday, reaching $58.70. 2,033,102 shares of the company were exchanged, compared to its average volume of 2,021,305. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 102.99, a PEG ratio of 1.54 and a beta of 1.15. 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 Co. has a one year low of $43.30 and a one year high of $101.44. The company has a 50-day moving average of $71.84 and a 200 day moving average of $74.02.

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.