Ciena Corporation $CIEN Shares Purchased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft boosted its stake in shares of Ciena Corporation (NYSE:CIEN) by 15.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,582 shares of the communications equipment provider’s stock after purchasing an additional 1,844 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Ciena were worth $5,259,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in shares of Ciena during the fourth quarter worth about $2,747,810,000. Corient Private Wealth LLC raised its holdings in Ciena by 30,114.5% in the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock valued at $671,365,000 after acquiring an additional 2,861,176 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Ciena by 53.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock valued at $947,554,000 after acquiring an additional 1,404,132 shares in the last quarter. Atreides Management LP purchased a new position in Ciena in the second quarter worth approximately $102,705,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Ciena by 2,174.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock worth $166,625,000 after acquiring an additional 1,093,557 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $600.00 price target on shares of Ciena in a report on Tuesday, June 23rd. Zacks Research raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Stifel Nicolaus set a $615.00 price objective on shares of Ciena in a research report on Friday, May 29th. Barclays boosted their target price on shares of Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Rosenblatt Securities increased their target price on Ciena from $350.00 to $720.00 and gave the company a “buy” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $530.56.

Ciena Trading Up 1.0%

Shares of Ciena stock opened at $378.31 on Tuesday. The company has a fifty day simple moving average of $491.11 and a 200-day simple moving average of $405.90. Ciena Corporation has a 12-month low of $83.20 and a 12-month high of $637.51. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 126.10 and a beta of 1.27.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The company’s revenue was up 39.5% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. On average, equities analysts forecast that Ciena Corporation will post 5.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jason Phipps sold 2,629 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the sale, the senior vice president owned 62,382 shares of the company’s stock, valued at approximately $29,082,488.40. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Cumello sold 1,586 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $466.33, for a total transaction of $739,599.38. Following the transaction, the senior vice president owned 42,872 shares in the company, valued at $19,992,499.76. The trade was a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 21,627 shares of company stock worth $10,974,985. Insiders own 0.58% 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.