Ciena Co. (NYSE:CIEN) Holdings Decreased by Slate Path Capital LP

Slate Path Capital LP lessened its holdings in Ciena Co. (NYSE:CIEN - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,179,600 shares of the communications equipment provider's stock after selling 675,800 shares during the quarter. Ciena makes up approximately 3.4% of Slate Path Capital LP's investment portfolio, making the stock its 10th largest position. Slate Path Capital LP owned 1.53% of Ciena worth $184,852,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CIEN. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Ciena by 925.0% during the fourth 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 in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Ciena by 73.7% in the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 purchasing an additional 279 shares during the period. Finally, Atlas Capital Advisors Inc. grew its position in Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after purchasing an additional 183 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the transaction, the senior vice president now directly owns 49,197 shares in the company, valued at $4,435,601.52. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Phipps sold 18,888 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the completion of the sale, the senior vice president now directly owns 89,258 shares in the company, 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 ninety days, insiders have sold 49,288 shares of company stock valued at $3,299,980. 0.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CIEN shares. JPMorgan Chase & Co. decreased their target price on shares of Ciena from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC dropped their target price on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. 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 note on Wednesday, March 12th. B. Riley reiterated a "buy" rating and issued a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Finally, Barclays set a $100.00 price objective on shares of Ciena and gave the stock an "overweight" rating in a report on Wednesday, March 12th. Four research 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 MarketBeat, Ciena presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.62.

Ciena Price Performance

CIEN traded up $1.71 during trading on Friday, reaching $66.00. 1,600,990 shares of the company were exchanged, compared to its average volume of 2,013,239. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 115.79, a P/E/G ratio of 1.54 and a beta of 1.15. Ciena Co. has a 12-month low of $44.69 and a 12-month high of $101.44. The company's 50-day moving average is $66.02 and its two-hundred day moving average is $73.74.

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.