Atria Wealth Solutions Inc. Sells 3,939 Shares of Ciena Co. (NYSE:CIEN)

Atria Wealth Solutions Inc. reduced its position in Ciena Co. (NYSE:CIEN) by 40.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,845 shares of the communications equipment provider’s stock after selling 3,939 shares during the period. Atria Wealth Solutions Inc.’s holdings in Ciena were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Providence Capital Advisors LLC boosted its stake in Ciena by 5,220.2% in the 1st quarter. Providence Capital Advisors LLC now owns 5,927,512 shares of the communications equipment provider’s stock worth $112,862,000 after purchasing an additional 5,816,096 shares in the last quarter. State Street Corp boosted its stake in Ciena by 0.7% in the 1st quarter. State Street Corp now owns 4,262,245 shares of the communications equipment provider’s stock worth $223,853,000 after purchasing an additional 31,333 shares in the last quarter. Bank of America Corp DE boosted its stake in Ciena by 11.7% in the 1st quarter. Bank of America Corp DE now owns 4,052,505 shares of the communications equipment provider’s stock worth $212,838,000 after purchasing an additional 424,453 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Ciena by 8.5% in the 1st quarter. Neuberger Berman Group LLC now owns 3,744,608 shares of the communications equipment provider’s stock worth $195,741,000 after purchasing an additional 294,015 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Ciena by 1.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,378,586 shares of the communications equipment provider’s stock worth $177,443,000 after purchasing an additional 60,729 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Ciena Trading Down 0.5 %

Shares of CIEN opened at $43.90 on Tuesday. The firm’s fifty day moving average is $44.97 and its two-hundred day moving average is $43.92. The company has a quick ratio of 2.71, a current ratio of 3.95 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.49 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96. Ciena Co. has a 52-week low of $39.94 and a 52-week high of $54.25.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Ciena had a net margin of 5.23% and a return on equity of 10.00%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Research analysts forecast that Ciena Co. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CIEN shares. Needham & Company LLC reduced their price target on shares of Ciena from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, August 28th. UBS Group raised their price target on shares of Ciena from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, September 1st. Evercore ISI raised their price target on shares of Ciena from $47.00 to $52.00 and gave the stock an “in-line” rating in a research report on Friday, September 1st. Barclays reduced their price target on shares of Ciena from $66.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, September 1st. Finally, B. Riley raised their price target on shares of Ciena from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, September 1st. Four equities 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.39.

Insider Activity

In other Ciena news, CEO Gary B. Smith sold 4,166 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $48.79, for a total value of $203,259.14. Following the transaction, the chief executive officer now owns 432,775 shares of the company’s stock, valued at $21,115,092.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ciena news, SVP Joseph Cumello sold 1,212 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $42.45, for a total transaction of $51,449.40. Following the sale, the senior vice president now directly owns 38,163 shares in the company, valued at $1,620,019.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 4,166 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.79, for a total transaction of $203,259.14. Following the sale, the chief executive officer now owns 432,775 shares in the company, valued at $21,115,092.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,375 shares of company stock valued at $1,316,313. 0.99% of the stock is currently owned by insiders.

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, IP routing, and switching services.