Amundi Purchases 25,986 Shares of Ciena Corporation $CIEN

Amundi lifted its position in Ciena Corporation (NYSE:CIEN) by 322.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,035 shares of the communications equipment provider’s stock after buying an additional 25,986 shares during the period. Amundi’s holdings in Ciena were worth $1,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Ciena by 50.0% in the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 178 shares in the last quarter. Bayforest Capital Ltd lifted its stake in shares of Ciena by 34.7% in the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after buying an additional 164 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ciena by 66.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider’s stock worth $39,000 after buying an additional 256 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Ciena in the fourth quarter worth approximately $42,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of Ciena by 9,162.5% in the first quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider’s stock worth $45,000 after buying an additional 733 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Insider Activity

In other news, SVP Jason Phipps sold 2,325 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $80.50, for a total value of $187,162.50. Following the completion of the sale, the senior vice president directly owned 84,833 shares of the company’s stock, valued at $6,829,056.50. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joseph Cumello sold 2,044 shares of the firm’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $81.64, for a total transaction of $166,872.16. Following the transaction, the senior vice president directly owned 47,198 shares of the company’s stock, valued at $3,853,244.72. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,769 shares of company stock valued at $3,326,705. 0.93% of the stock is currently owned by company insiders.

Ciena Stock Down 1.0%

Shares of CIEN stock opened at $131.15 on Friday. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $134.31. The stock has a market cap of $18.50 billion, a P/E ratio of 135.20, a P/E/G ratio of 2.60 and a beta of 1.16. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $93.98 and a two-hundred day simple moving average of $78.87.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Ciena from $105.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Stifel Nicolaus increased their price objective on shares of Ciena from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Bank of America increased their price objective on shares of Ciena from $95.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Needham & Company LLC increased their price objective on shares of Ciena from $90.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Argus increased their price objective on shares of Ciena from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ciena has a consensus rating of “Moderate Buy” and an average target price of $114.32.

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.