Grantham Mayo Van Otterloo & Co. LLC Sells 114,207 Shares of Ciena Co. (NYSE:CIEN)

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in shares of Ciena Co. (NYSE:CIEN - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 543,556 shares of the communications equipment provider's stock after selling 114,207 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.38% of Ciena worth $46,099,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Captrust Financial Advisors boosted its position in shares of Ciena by 28.7% during the 3rd quarter. Captrust Financial Advisors now owns 7,951 shares of the communications equipment provider's stock valued at $490,000 after purchasing an additional 1,775 shares in the last quarter. Benjamin Edwards Inc. grew its position in Ciena by 178,956.3% during the third quarter. Benjamin Edwards Inc. now owns 28,649 shares of the communications equipment provider's stock worth $1,764,000 after buying an additional 28,633 shares in the last quarter. HighTower Advisors LLC lifted its stake in Ciena by 6.3% during the third quarter. HighTower Advisors LLC now owns 45,426 shares of the communications equipment provider's stock worth $2,777,000 after purchasing an additional 2,693 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Ciena during the third quarter valued at about $269,000. Finally, Quantinno Capital Management LP increased its stake in shares of Ciena by 11.9% during the third quarter. Quantinno Capital Management LP now owns 20,107 shares of the communications equipment provider's stock valued at $1,238,000 after buying an additional 2,137 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Ciena

In other news, SVP Brodie Gage sold 350 shares of the company'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 completion of the sale, the senior vice president now directly owns 49,547 shares in the company, 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 Jason Phipps sold 18,888 shares of the company's stock in a transaction dated 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 directly owns 89,258 shares of the company's stock, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,288 shares of company stock valued at $3,484,670. Corporate insiders own 0.93% of the company's stock.

Ciena Price Performance

Shares of CIEN stock traded down $3.93 during trading hours on Thursday, hitting $58.06. The company had a trading volume of 824,016 shares, compared to its average volume of 2,012,418. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 102.00, a PEG ratio of 1.54 and a beta of 1.15. 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 12 month low of $43.30 and a 12 month high of $101.44. The firm's fifty day moving average is $72.95 and its 200 day moving average is $74.05.

Wall Street Analyst Weigh In

CIEN has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a report on Friday, December 13th. Morgan Stanley cut 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. Rosenblatt Securities reduced their target price on shares of Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Barclays set a $100.00 target price on Ciena and gave the stock an "overweight" rating in a report on Wednesday, March 12th. Finally, Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $75.00 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.38.

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.