81,900 Shares in Ciena Co. (NYSE:CIEN) Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new position in shares of Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 81,900 shares of the communications equipment provider's stock, valued at approximately $6,946,000. ExodusPoint Capital Management LP owned 0.06% of Ciena at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock valued at $28,000 after acquiring an additional 296 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 acquiring an additional 279 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Ciena during the 4th quarter valued at $41,000. Parkside Financial Bank & Trust boosted its position in shares of Ciena by 409.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider's stock worth $44,000 after purchasing an additional 418 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Ciena by 394.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider's stock valued at $46,000 after purchasing 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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Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup boosted their price objective on Ciena from $84.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Bank of America upgraded shares of Ciena from a "neutral" rating to a "buy" rating and increased their target price for the company from $70.00 to $95.00 in a report on Friday, December 13th. Rosenblatt Securities cut their target price on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $60.00 to $75.00 in a report on Wednesday, March 12th. Finally, Needham & Company LLC cut their target price on Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ciena currently has an average rating of "Moderate Buy" and a consensus target price of $81.38.

Insider Activity at Ciena

In related news, SVP Brodie Gage sold 350 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the transaction, the senior vice president now directly owns 49,547 shares of the company's stock, valued at approximately $4,256,582.77. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of Ciena stock in a transaction 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 completion of the sale, the senior vice president now directly owns 207,370 shares of the company's stock, valued at approximately $14,283,645.60. The trade was a 1.19 % decrease in their position. 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 Stock Down 7.3 %

Shares of NYSE CIEN traded down $4.50 on Thursday, reaching $57.49. 526,246 shares of the company's stock traded hands, compared to its average volume of 2,011,359. The business's 50 day simple moving average is $72.95 and its two-hundred day simple moving average is $74.05. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 100.87, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

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.