Natixis Advisors LLC grew its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 22.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,916 shares of the communications equipment provider's stock after acquiring an additional 34,169 shares during the quarter. Natixis Advisors LLC owned about 0.13% of Ciena worth $15,768,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after buying an additional 296 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in Ciena in the 4th quarter worth approximately $41,000. Parkside Financial Bank & Trust lifted its position in Ciena by 409.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider's stock valued at $44,000 after acquiring an additional 418 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 512 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Ciena in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 91.99% of the company's stock.
Insider Activity at Ciena
In other news, SVP Jason Phipps sold 5,648 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.64, for a total value of $478,046.72. Following the completion of the transaction, the senior vice president now owns 109,878 shares of the company's stock, valued at $9,300,073.92. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary B. Smith sold 13,600 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $83.66, for a total value of $1,137,776.00. Following the sale, the chief executive officer now owns 425,749 shares of the company's stock, valued at $35,618,161.34. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,742 shares of company stock worth $5,469,173. 0.93% of the stock is owned by company insiders.
Ciena Stock Performance
CIEN traded down $0.16 during midday trading on Friday, reaching $65.47. The company had a trading volume of 2,537,351 shares, compared to its average volume of 1,908,488. The business has a 50-day moving average of $80.57 and a two-hundred day moving average of $73.48. 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. The company has a market cap of $9.31 billion, a P/E ratio of 114.86, a P/E/G ratio of 1.54 and a beta of 0.91.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on CIEN shares. Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock 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 price target for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Citigroup boosted their price objective on shares of Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a report on Friday, December 13th. Needham & Company LLC dropped their target price on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Barclays set a $100.00 target price on shares of Ciena and gave the company an "overweight" rating in a research note on Wednesday, March 12th. Four equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $81.38.
Read Our Latest Research Report on Ciena
About Ciena
(
Free Report)
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.
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