Ciena Co. (NYSE:CIEN) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its holdings in shares of Ciena Co. (NYSE:CIEN – Get Rating) by 21.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,819 shares of the communications equipment provider’s stock after selling 16,005 shares during the period. Ensign Peak Advisors Inc’s holdings in Ciena were worth $2,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Ciena during the second quarter worth $32,000. Private Trust Co. NA raised its holdings in shares of Ciena by 115.1% during the third quarter. Private Trust Co. NA now owns 884 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 473 shares during the period. Eagle Bay Advisors LLC raised its holdings in shares of Ciena by 98.3% during the second quarter. Eagle Bay Advisors LLC now owns 817 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 405 shares during the period. Standard Family Office LLC acquired a new stake in shares of Ciena during the third quarter worth $37,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Ciena during the third quarter worth $44,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Ciena Price Performance

Shares of NYSE CIEN opened at $49.64 on Friday. Ciena Co. has a twelve month low of $38.33 and a twelve month high of $61.97. The company has a current ratio of 3.70, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 1.65 and a beta of 0.97. The firm has a 50-day moving average of $49.86 and a two-hundred day moving average of $46.80.

Ciena (NYSE:CIEN – Get Rating) last issued its quarterly earnings results on Monday, March 6th. The communications equipment provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.28. Ciena had a net margin of 4.77% and a return on equity of 8.22%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $959.04 million. During the same period in the prior year, the company earned $0.35 EPS. Ciena’s revenue was up 25.1% on a year-over-year basis. As a group, analysts expect that Ciena Co. will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling at Ciena

In other Ciena news, VP Andrew C. Petrik sold 1,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $49.87, for a total value of $49,870.00. Following the completion of the sale, the vice president now directly owns 35,099 shares of the company’s stock, valued at approximately $1,750,387.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ciena news, SVP Scott Mcfeely sold 3,208 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $49.87, for a total transaction of $159,982.96. Following the completion of the sale, the senior vice president now directly owns 119,653 shares of the company’s stock, valued at $5,967,095.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew C. Petrik sold 1,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $49.87, for a total transaction of $49,870.00. Following the sale, the vice president now directly owns 35,099 shares of the company’s stock, valued at $1,750,387.13. The disclosure for this sale can be found here. In the last three months, insiders sold 67,943 shares of company stock valued at $3,918,806. 0.99% of the stock is owned by insiders.

Analyst Ratings Changes

CIEN has been the subject of several recent research reports. Cowen upped their price target on shares of Ciena from $71.00 to $76.00 in a research report on Friday, December 9th. Loop Capital upped their price target on shares of Ciena from $68.00 to $69.00 in a research report on Friday, December 9th. MKM Partners upped their price target on shares of Ciena from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, December 9th. Raymond James upped their price target on shares of Ciena from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Citigroup upped their price target on shares of Ciena from $55.00 to $65.00 in a research report on Friday, December 9th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

About Ciena

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Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.