Ciena Co. (NYSE:CIEN) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its holdings in shares of Ciena Co. (NYSE:CIEN) by 79.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 555 shares of the communications equipment provider’s stock after selling 2,135 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Ciena were worth $34,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 279 shares during the last quarter. Bessemer Group Inc. increased its holdings in Ciena by 73.7% in the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 151 shares during the last quarter. Atlas Capital Advisors Inc. raised its holdings in Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 183 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Ciena by 66.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider’s stock valued at $39,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CIEN shares. B. Riley reaffirmed a “buy” rating and issued a $90.00 target price (up from $89.00) on shares of Ciena in a research report on Friday, June 6th. Citigroup reduced their target price on Ciena from $98.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. boosted their price target on shares of Ciena from $76.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Ciena in a report on Friday, June 6th. Finally, Barclays set a $100.00 price target on Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.15.

Insiders Place Their Bets

In other Ciena news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $78.67, for a total transaction of $27,534.50. Following the sale, the senior vice president now directly owns 46,233 shares in the company, valued at $3,637,150.11. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jason Phipps sold 18,888 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the completion of the sale, the senior vice president now owns 89,258 shares of the company’s stock, valued at $5,344,769.04. The trade was a 17.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,988 shares of company stock worth $2,988,095 over the last three months. 0.93% of the stock is currently owned by company insiders.

Ciena Price Performance

Shares of Ciena stock opened at $73.74 on Tuesday. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 129.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.12. Ciena Co. has a 52-week low of $44.89 and a 52-week 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 company has a fifty day moving average of $72.06 and a 200-day moving average of $76.09.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). Ciena had a net margin of 2.09% and a return on equity of 4.72%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.27 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. Equities research analysts expect that Ciena Co. will post 1.6 EPS for the current year.

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.