Loomis Sayles & Co. L P Has $36.51 Million Stake in Ciena Co. (NYSE:CIEN)

Loomis Sayles & Co. L P reduced its position in shares of Ciena Co. (NYSE:CIEN - Free Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,510 shares of the communications equipment provider's stock after selling 13,417 shares during the quarter. Loomis Sayles & Co. L P owned 0.30% of Ciena worth $36,512,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CIEN. WINTON GROUP Ltd raised its stake in Ciena by 242.4% in the fourth quarter. WINTON GROUP Ltd now owns 104,167 shares of the communications equipment provider's stock valued at $8,834,000 after buying an additional 73,741 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Ciena by 328.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 279 shares during the period. Keystone Investors PTE Ltd. acquired a new stake in Ciena during the 4th quarter valued at $45,341,000. Modern Wealth Management LLC acquired a new stake in Ciena during the 4th quarter valued at $239,000. Finally, EntryPoint Capital LLC bought a new position in Ciena during the fourth quarter worth $404,000. Institutional investors and hedge funds own 91.99% of the company's stock.

Ciena Trading Up 0.7 %

NYSE CIEN traded up $0.42 on Tuesday, hitting $60.85. The company's stock had a trading volume of 412,100 shares, compared to its average volume of 1,959,544. The firm has a market cap of $8.65 billion, a PE ratio of 106.52, a PEG ratio of 1.54 and a beta of 0.91. The company's 50-day moving average is $78.25 and its 200 day moving average is $74.25. 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 Co. has a 1-year low of $43.30 and a 1-year high of $101.44.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on CIEN shares. Rosenblatt Securities reduced their target price on shares of Ciena from $94.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Barclays set a $100.00 price target on Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Morgan Stanley cut their target price on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Needham & Company LLC reduced their price target on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, B. Riley restated a "buy" rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $81.38.

Insider Buying and Selling

In other Ciena news, SVP Jason Phipps sold 5,648 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.64, for a total value of $478,046.72. Following the transaction, the senior vice president now directly owns 109,878 shares of the company's stock, valued at approximately $9,300,073.92. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Monday, March 17th. The shares were sold at an average price of $65.18, for a total transaction of $443,224.00. Following the completion of the sale, the chief executive officer now owns 391,749 shares of the company's stock, valued at $25,534,199.82. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,560 shares of company stock valued at $5,406,323 in the last three months. 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.