Generali Investments Towarzystwo Funduszy Inwestycyjnych Reduces Holdings in Ciena Corporation $CIEN

Generali Investments Towarzystwo Funduszy Inwestycyjnych decreased its position in shares of Ciena Corporation (NYSE:CIEN) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,000 shares of the communications equipment provider’s stock after selling 4,000 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Ciena were worth $583,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Ciena by 0.7% during the second quarter. Vanguard Group Inc. now owns 15,088,445 shares of the communications equipment provider’s stock valued at $1,227,143,000 after purchasing an additional 103,199 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ciena by 7.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,243,053 shares of the communications equipment provider’s stock valued at $426,420,000 after buying an additional 359,579 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Ciena by 10.4% during the 2nd quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock valued at $284,313,000 after buying an additional 329,821 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Ciena by 35.0% in the 2nd quarter. William Blair Investment Management LLC now owns 2,708,540 shares of the communications equipment provider’s stock worth $220,286,000 after buying an additional 702,909 shares during the period. Finally, Senvest Management LLC grew its stake in Ciena by 12.4% in the 2nd quarter. Senvest Management LLC now owns 1,655,012 shares of the communications equipment provider’s stock valued at $134,602,000 after buying an additional 182,900 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CIEN. Needham & Company LLC raised their price target on Ciena to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. UBS Group increased their price objective on Ciena from $120.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Argus raised their target price on Ciena from $135.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wall Street Zen cut Ciena from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Stifel Nicolaus raised their price objective on shares of Ciena to $280.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Ciena currently has a consensus rating of “Moderate Buy” and an average target price of $241.67.

Ciena Stock Performance

NYSE:CIEN opened at $232.13 on Tuesday. The stock has a market cap of $32.70 billion, a P/E ratio of 273.09, a PEG ratio of 1.27 and a beta of 1.13. The company has a quick ratio of 2.09, a current ratio of 2.73 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $222.08 and its two-hundred day moving average price is $163.41. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $261.13.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.15. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Ciena had a net margin of 2.59% and a return on equity of 8.38%. Ciena’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, equities analysts predict that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Insider Transactions at Ciena

In other Ciena news, Director Patrick Gallagher sold 11,618 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $227.45, for a total transaction of $2,642,514.10. Following the sale, the director owned 50,184 shares in the company, valued at $11,414,350.80. This trade represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joseph Cumello sold 11,929 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $229.82, for a total value of $2,741,522.78. Following the completion of the transaction, the senior vice president owned 49,475 shares of the company’s stock, valued at $11,370,344.50. The trade was a 19.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 167,890 shares of company stock worth $38,277,035. Company insiders own 0.93% of the company’s stock.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.