Edmond DE Rothschild Holding S.A. Acquires Shares of 8,871 Ciena Co. (NYSE:CIEN)

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,871 shares of the communications equipment provider's stock, valued at approximately $752,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CIEN. O Shaughnessy Asset Management LLC lifted its holdings in shares of Ciena by 75.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,716 shares of the communications equipment provider's stock worth $485,000 after acquiring an additional 2,453 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Ciena by 394.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider's stock valued at $46,000 after buying an additional 442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Ciena by 0.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider's stock valued at $444,143,000 after buying an additional 17,447 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 worth $44,912,000 after buying an additional 518,003 shares during the period. Finally, Strategy Asset Managers LLC bought a new stake in shares of Ciena during the 4th quarter worth approximately $1,382,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America upgraded Ciena from a "neutral" rating to a "buy" rating and increased their target price for the stock from $70.00 to $95.00 in a research note on Friday, December 13th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. B. Riley reissued a "buy" rating and issued a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities dropped their price objective on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $81.38.

Insider Transactions at Ciena

In other news, Director Bruce L. Claflin sold 16,912 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the sale, the director now directly owns 59,347 shares of the company's stock, valued at $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Phipps sold 18,888 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was 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 owns 89,258 shares of the company's stock, valued at $5,344,769.04. This trade represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,200 shares of company stock valued at $4,921,513 in the last quarter. 0.93% of the stock is currently owned by corporate insiders.

Ciena Stock Down 4.7 %

CIEN traded down $2.66 during trading on Friday, hitting $53.53. The stock had a trading volume of 5,780,351 shares, compared to its average volume of 1,998,868. The stock has a 50 day simple moving average of $75.40 and a two-hundred day simple moving average of $74.21. 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 twelve month low of $43.30 and a twelve month high of $101.44. The company has a market capitalization of $7.61 billion, a PE ratio of 93.91, a PEG ratio of 1.54 and a beta of 1.15.

About Ciena

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.