Ciena Co. (NYSE:CIEN) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ciena Co. (NYSE:CIEN - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,732 shares of the communications equipment provider's stock after acquiring an additional 4,534 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Ciena were worth $3,285,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Versant Capital Management Inc lifted its position in 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 purchasing an additional 296 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider's stock worth $44,000 after acquiring an additional 418 shares in the last quarter. Kieckhefer Group LLC bought a new position in Ciena in the fourth quarter valued at $59,000. UMB Bank n.a. raised its position in Ciena by 59.2% during the fourth quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider's stock valued at $61,000 after purchasing an additional 267 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Ciena by 152.8% during the third quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider's stock worth $52,000 after purchasing an additional 512 shares during the last quarter. Institutional investors own 91.99% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on CIEN shares. Rosenblatt Securities decreased their price objective on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Morgan Stanley cut their price objective on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. B. Riley restated a "buy" rating and issued a $89.00 target price (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Finally, Citigroup upped their price target on Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, December 13th. 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's stock. According to MarketBeat.com, Ciena currently has an average rating of "Moderate Buy" and a consensus price target of $81.38.

Insider Buying and Selling

In other Ciena news, SVP Jason Phipps sold 5,648 shares of Ciena stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 109,878 shares in the company, valued at approximately $9,300,073.92. The trade was a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Dino Diperna sold 2,682 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $87.64, for a total value of $235,050.48. Following the completion of the transaction, the senior vice president now directly owns 50,607 shares of the company's stock, valued at $4,435,197.48. The trade was a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,942 shares of company stock worth $5,025,949 in the last 90 days. 0.93% of the stock is owned by corporate insiders.

Ciena Trading Up 2.4 %

CIEN traded up $1.51 during trading on Wednesday, hitting $65.84. 1,183,907 shares of the stock were exchanged, compared to its average volume of 2,643,937. Ciena Co. has a 1 year low of $43.30 and a 1 year high of $101.44. 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 market cap of $9.36 billion, a price-to-earnings ratio of 115.52, a P/E/G ratio of 1.54 and a beta of 0.91. The firm has a 50 day simple moving average of $81.57 and a 200 day simple moving average of $73.53.

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.