Ciena Co. (NYSE:CIEN) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC trimmed its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,434 shares of the communications equipment provider's stock after selling 7,072 shares during the quarter. Proficio Capital Partners LLC's holdings in Ciena were worth $1,818,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Ciena by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider's stock valued at $148,348,000 after acquiring an additional 33,074 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Ciena in the 4th quarter worth about $245,000. US Bancorp DE lifted its position in shares of Ciena by 1.5% in the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock worth $887,000 after buying an additional 152 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Ciena in the 4th quarter worth about $421,000. Finally, FMR LLC lifted its position in shares of Ciena by 0.5% in the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider's stock worth $1,334,290,000 after buying an additional 108,407 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CIEN. Barclays set a $100.00 price target on shares of Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Citigroup raised their price target 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. Northland Capmk upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 12th. B. Riley restated a "buy" rating and issued a $89.00 price target (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities cut their price objective 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. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.38.

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Ciena Price Performance

Ciena stock traded down $0.16 during trading hours on Friday, hitting $65.47. 2,537,351 shares of the company traded hands, compared to its average volume of 1,908,725. The firm has a market cap of $9.31 billion, a P/E ratio of 114.86, a P/E/G ratio of 1.54 and a beta of 0.91. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The firm's 50-day simple moving average is $80.57 and its two-hundred day simple moving average is $73.60. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44.

Insider Buying and Selling at Ciena

In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total value of $31,556.00. Following the transaction, the senior vice president now owns 49,197 shares of the company's stock, valued at $4,435,601.52. The trade was a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.18, for a total transaction of $443,224.00. Following the completion of the transaction, the chief executive officer now directly owns 391,749 shares in the company, valued at $25,534,199.82. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,742 shares of company stock valued at $5,469,173. Company insiders own 0.93% of the company's stock.

Ciena Company 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.