15,000 Shares in Ciena Co. (NYSE:CIEN) Purchased by Tredje AP fonden

Tredje AP fonden purchased a new position in Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the communications equipment provider's stock, valued at approximately $1,272,000.

Several other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust increased its stake in Ciena by 2.8% in the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock valued at $422,000 after acquiring an additional 136 shares during the last quarter. US Bancorp DE increased its stake in Ciena by 1.5% in the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after acquiring an additional 152 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Ciena by 3.8% in the third quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider's stock valued at $292,000 after acquiring an additional 175 shares during the last quarter. CIBC Asset Management Inc increased its stake in Ciena by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider's stock valued at $379,000 after acquiring an additional 226 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Ciena by 4.9% in the fourth quarter. QRG Capital Management Inc. now owns 4,914 shares of the communications equipment provider's stock valued at $417,000 after acquiring an additional 228 shares during the last quarter. Institutional investors own 91.99% of the company's stock.

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Ciena Stock Up 2.4 %

Shares of CIEN traded up $1.51 during mid-day trading on Wednesday, reaching $65.84. The company had a trading volume of 1,657,639 shares, compared to its average volume of 1,903,588. 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 firm has a 50-day moving average price of $81.57 and a 200 day moving average price of $73.53. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 115.52, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91.

Analyst Ratings Changes

A number of research analysts recently commented on CIEN shares. Stifel Nicolaus reissued a "buy" rating and issued a $82.00 target price (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised Ciena from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Bank of America raised Ciena from a "neutral" rating to a "buy" rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Friday, December 13th. Northland Securities raised Ciena from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Morgan Stanley reduced 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. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.38.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Jason Phipps sold 5,648 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dino Diperna sold 2,682 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $87.64, for a total transaction of $235,050.48. Following the transaction, the senior vice president now directly owns 50,607 shares of the company's stock, valued at $4,435,197.48. This trade represents a 5.03 % 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. Insiders own 0.93% of the company's stock.

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.