27,100 Shares in Ciena Co. (NYSE:CIEN) Bought by Gladstone Capital Management LLP

Gladstone Capital Management LLP purchased a new position in Ciena Co. (NYSE:CIEN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 27,100 shares of the communications equipment provider's stock, valued at approximately $2,298,000. Ciena comprises 0.2% of Gladstone Capital Management LLP's holdings, making the stock its 19th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust lifted its position in shares of Ciena by 2.8% in the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock worth $422,000 after buying an additional 136 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 151 shares during the last quarter. US Bancorp DE raised its holdings in shares of Ciena by 1.5% in the fourth 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 period. Coldstream Capital Management Inc. lifted its stake in shares of Ciena by 3.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider's stock worth $292,000 after acquiring an additional 175 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its stake in shares of Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 183 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.29, for a total value of $579,972.00. Following the sale, the chief executive officer now owns 418,949 shares in the company, valued at $35,732,160.21. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 49,288 shares of company stock worth $3,484,670. Insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

CIEN has been the subject of several research analyst reports. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 12th. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. JPMorgan Chase & Co. raised shares of Ciena from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Morgan Stanley lowered their price target on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Finally, Barclays set a $100.00 target price on Ciena and gave the company an "overweight" rating in a research report on Wednesday, March 12th. Four 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $81.38.

Ciena Stock Down 6.8 %

NYSE:CIEN traded down $4.22 during midday trading on Thursday, reaching $57.77. 765,483 shares of the stock traded hands, compared to its average volume of 2,657,313. The stock has a market capitalization of $8.21 billion, a PE ratio of 101.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. The business has a 50-day moving average of $72.95 and a two-hundred day moving average of $74.05.

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.