Atria Wealth Solutions Inc. Takes $221,000 Position in Ciena Co. (NYSE:CIEN)

Atria Wealth Solutions Inc. purchased a new stake in shares of Ciena Co. (NYSE:CIEN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,603 shares of the communications equipment provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CIEN. Geode Capital Management LLC lifted its position in shares of Ciena by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after buying an additional 33,074 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Ciena during the fourth quarter valued at approximately $245,000. Merit Financial Group LLC bought a new stake in Ciena during the fourth quarter worth $421,000. Atria Investments Inc purchased a new position in Ciena in the third quarter worth $1,988,000. Finally, FMR LLC grew its stake in Ciena by 0.5% in the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider’s stock valued at $1,334,290,000 after purchasing an additional 108,407 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CIEN has been the topic of a number of recent analyst reports. Barclays lifted their target price on Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities lifted their price objective on shares of Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Citigroup raised their price target on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price objective (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Ciena Trading Up 1.9 %

Shares of CIEN stock opened at $79.49 on Friday. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 139.45, a PEG ratio of 1.54 and a beta of 0.88. The company’s fifty day simple moving average is $85.85 and its two-hundred day simple moving average is $72.35. 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 current ratio of 3.55 and a quick ratio of 2.72.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a net margin of 2.09% and a return on equity of 4.72%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts anticipate that Ciena Co. will post 1.6 earnings per share for the current year.

Insider Activity

In related news, SVP Dino Diperna sold 2,682 shares of Ciena stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $87.64, for a total transaction of $235,050.48. Following the completion of the sale, the senior vice president now owns 50,607 shares of the company’s stock, valued at approximately $4,435,197.48. This trade represents a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the transaction, the senior vice president now owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,642 shares of company stock worth $4,818,176 over the last ninety days. Company insiders own 0.93% of the company’s stock.

Ciena Company 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.