Envestnet Asset Management Inc. Sells 83,217 Shares of Ciena Corporation $CIEN

Envestnet Asset Management Inc. cut its stake in Ciena Corporation (NYSE:CIEN) by 20.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317,410 shares of the communications equipment provider’s stock after selling 83,217 shares during the quarter. Envestnet Asset Management Inc. owned about 0.23% of Ciena worth $46,237,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mather Group LLC. purchased a new position in Ciena in the third quarter valued at about $28,000. Salomon & Ludwin LLC bought a new stake in shares of Ciena in the 3rd quarter valued at about $31,000. Quent Capital LLC bought a new stake in shares of Ciena in the 3rd quarter valued at about $39,000. Root Financial Partners LLC purchased a new position in shares of Ciena in the 3rd quarter worth approximately $45,000. Finally, Cloud Capital Management LLC bought a new position in shares of Ciena during the 3rd quarter worth approximately $55,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 completion of the transaction, the senior vice president directly owned 91,765 shares in the company, valued at $22,747,625.85. The trade was a 18.90% 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, Director Patrick Gallagher sold 11,618 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $227.45, for a total transaction of $2,642,514.10. Following the completion of the sale, the director directly owned 50,184 shares in the company, valued at approximately $11,414,350.80. The trade was a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 157,242 shares of company stock valued at $36,341,766 over the last quarter. Insiders own 0.93% of the company’s stock.

Ciena Trading Up 2.8%

Ciena stock opened at $297.93 on Wednesday. The stock has a 50-day moving average price of $237.84 and a 200 day moving average price of $177.44. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 350.51, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. Ciena Corporation has a 52 week low of $49.21 and a 52 week high of $298.99. The company has a quick ratio of 2.09, a current ratio of 2.73 and a debt-to-equity ratio of 0.56.

Ciena (NYSE:CIEN) last issued its quarterly earnings results 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. Ciena had a net margin of 2.59% and a return on equity of 8.38%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.54 EPS. Ciena’s quarterly revenue was up 20.1% on a year-over-year basis. Sell-side analysts anticipate that Ciena Corporation will post 1.6 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CIEN shares. Needham & Company LLC increased their target price on shares of Ciena to $280.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Stifel Nicolaus upped their price target on Ciena to $280.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Zacks Research raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 23rd. Barclays boosted their target price on Ciena from $138.00 to $279.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Morgan Stanley set a $213.00 price target on Ciena in a research note on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.67.

Ciena News Roundup

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Short interest fell sharply (~28.7% between Jan 15 and Jan 30), leaving only ~3.0% of float short and a low 1.9 days-to-cover — reducing immediate short-pressure on the stock.
• Positive Sentiment: Ciena made its debut in the S&P 500, highlighting its growing role in AI networking; S&P inclusion can attract index funds and broaden institutional demand. Ciena’s S&P 500 Debut Highlights Growing Role In AI Networking
• Positive Sentiment: The stock recently hit a 52-week high, reinforcing momentum and technical strength that can draw momentum/trend-following flows. Ciena stock hits 52-week high at 286.22 USD
• Positive Sentiment: Ciena is shown in the Russell 1000 technology framework, which can increase visibility among passive/rules-based investors. Ciena Corporation Shown in Russell 1000 Technology Framework
• Positive Sentiment: Zacks has highlighted CIEN as a top growth/momentum idea (Zacks Rank #1 and momentum coverage), which can help retail and advisory buying interest. Best Growth Stocks to Buy for February 9th
• Neutral Sentiment: Recent sessions showed strong volume and big daily moves (e.g., a 7.3% jump), but Zacks notes that earnings-estimate revision trends could limit near-term upside — a mixed technical/fundamental signal. Ciena (CIEN) Soars 7.3%: Is Further Upside Left in the Stock?
• Negative Sentiment: Reports flagged insider selling/dispositions, which can be perceived as a bearish signal by some investors and add short-term caution. Possible Bearish Signals With Ciena Insiders Disposing Stock
• Negative Sentiment: Analysts note the stock’s rapid 6‑month gains (~210%) and flag expensive valuation and rising costs as risks that could temper longer-term returns if growth/ margins re-rate. Ciena Surges 210% in 6 Months: Should Investors Buy, Hold or Fold?

Ciena Company Profile

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.