Insider Selling: Ciena Corporation (CIEN) VP Sells $45,500.00 in Stock

Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $22.75, for a total transaction of $45,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

David M. Rothenstein also recently made the following trade(s):

  • On Wednesday, November 15th, David M. Rothenstein sold 2,000 shares of Ciena stock. The stock was sold at an average price of $19.50, for a total transaction of $39,000.00.

Ciena Corporation (NYSE CIEN) traded down $0.19 during mid-day trading on Friday, reaching $21.85. 3,169,077 shares of the company’s stock traded hands, compared to its average volume of 3,400,000. The company has a current ratio of 1.93, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27. Ciena Corporation has a 52-week low of $19.40 and a 52-week high of $27.98. The company has a market cap of $3,140.00, a price-to-earnings ratio of 3.16, a P/E/G ratio of 1.39 and a beta of 1.67.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Ciena had a net margin of 45.04% and a return on equity of 18.32%. The firm had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. During the same period in the prior year, the business earned $0.44 earnings per share. Ciena’s quarterly revenue was up 3.9% compared to the same quarter last year. equities research analysts forecast that Ciena Corporation will post 1 EPS for the current fiscal year.

Ciena declared that its board has approved a stock repurchase plan on Thursday, December 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Ciena by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock valued at $518,000 after buying an additional 58 shares during the period. ETRADE Capital Management LLC increased its holdings in Ciena by 1.0% in the 2nd quarter. ETRADE Capital Management LLC now owns 38,106 shares of the communications equipment provider’s stock valued at $953,000 after buying an additional 367 shares during the period. Dana Investment Advisors Inc. increased its holdings in Ciena by 0.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 95,942 shares of the communications equipment provider’s stock valued at $2,400,000 after buying an additional 513 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ciena by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares during the period. Finally, Advisor Group Inc. increased its holdings in Ciena by 6.4% in the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 604 shares during the period.

CIEN has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $28.00 target price (down previously from $31.00) on shares of Ciena in a research note on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and set a $30.00 target price on shares of Ciena in a research note on Tuesday, September 26th. MKM Partners restated a “buy” rating and set a $30.00 target price on shares of Ciena in a research note on Tuesday, September 26th. Piper Jaffray Companies reiterated a “buy” rating on shares of Ciena in a research note on Thursday, October 12th. Finally, BidaskClub upgraded shares of Ciena from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $28.48.

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About Ciena

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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