Diversified Trust Co. Has $1.13 Million Stake in Ciena Corporation $CIEN

Diversified Trust Co. lifted its stake in Ciena Corporation (NYSE:CIEN) by 64.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,848 shares of the communications equipment provider’s stock after buying an additional 1,902 shares during the period. Diversified Trust Co.’s holdings in Ciena were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CIEN. Community Bank N.A. acquired a new stake in shares of Ciena during the 3rd quarter worth approximately $25,000. Mather Group LLC. bought a new position in Ciena in the third quarter valued at approximately $28,000. Assetmark Inc. raised its position in Ciena by 50.4% during the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Ciena by 104.0% during the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Ciena during the third quarter worth $31,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Buying and Selling

In other news, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $359.53, for a total transaction of $1,061,332.56. Following the completion of the sale, the chief executive officer owned 293,084 shares in the company, valued at $105,372,490.52. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jason Phipps sold 21,383 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $247.89, for a total transaction of $5,300,631.87. Following the sale, the senior vice president owned 91,765 shares of the company’s stock, valued at $22,747,625.85. This trade represents a 18.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 148,283 shares of company stock worth $36,397,491 over the last ninety days. 0.58% of the stock is owned by company insiders.

Ciena Price Performance

Shares of CIEN opened at $388.26 on Friday. The business has a 50-day moving average of $312.83 and a 200-day moving average of $232.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. The company has a market capitalization of $54.90 billion, a price-to-earnings ratio of 247.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. Ciena Corporation has a 1 year low of $49.21 and a 1 year high of $446.89.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.18. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Ciena had a net margin of 4.47% and a return on equity of 12.09%. Ciena’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, equities research analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on CIEN shares. Evercore set a $330.00 target price on Ciena in a research report on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Ciena in a report on Wednesday, January 21st. Stifel Nicolaus raised their price target on shares of Ciena from $320.00 to $430.00 and gave the company a “buy” rating in a research note on Monday. Rosenblatt Securities upped their price objective on shares of Ciena from $305.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $320.00 price objective on shares of Ciena in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Ciena presently has an average rating of “Moderate Buy” and an average target price of $327.12.

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.