Jump Financial LLC Makes New $508,000 Investment in Ciena Co. (NYSE:CIEN)

Jump Financial LLC acquired a new stake in Ciena Co. (NYSE:CIENFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,749 shares of the communications equipment provider’s stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also modified their holdings of CIEN. Farther Finance Advisors LLC lifted its holdings in Ciena by 63.9% in the second quarter. Farther Finance Advisors LLC now owns 849 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 331 shares during the period. Sunbelt Securities Inc. acquired a new stake in Ciena in the 1st quarter worth about $59,000. State of Wyoming increased its stake in Ciena by 35.4% during the 4th quarter. State of Wyoming now owns 2,450 shares of the communications equipment provider’s stock worth $125,000 after buying an additional 640 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of Ciena by 74.7% during the third quarter. CENTRAL TRUST Co now owns 3,274 shares of the communications equipment provider’s stock valued at $133,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Smithfield Trust Co lifted its position in shares of Ciena by 74.5% in the third quarter. Smithfield Trust Co now owns 2,999 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays increased their price objective on Ciena from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, December 8th. Raymond James decreased their price target on shares of Ciena from $63.00 to $60.00 and set a “strong-buy” rating on the stock in a research note on Friday, December 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $65.00 price objective on shares of Ciena in a research note on Friday, December 8th. StockNews.com raised shares of Ciena from a “sell” rating to a “hold” rating in a research note on Friday. Finally, TheStreet upgraded Ciena from a “c” rating to a “b-” rating in a report on Thursday, December 7th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.79.

Check Out Our Latest Stock Analysis on CIEN

Ciena Stock Performance

NYSE CIEN opened at $56.73 on Friday. The stock has a fifty day simple moving average of $48.33 and a 200-day simple moving average of $45.69. The company has a current ratio of 3.84, a quick ratio of 2.71 and a debt-to-equity ratio of 0.54. The stock has a market cap of $8.22 billion, a PE ratio of 33.18, a P/E/G ratio of 1.78 and a beta of 1.01. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $57.17.

Ciena (NYSE:CIENGet Free Report) last announced its earnings results on Thursday, December 7th. The communications equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 5.81% and a return on equity of 10.28%. Ciena’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. Equities analysts anticipate that Ciena Co. will post 2.09 earnings per share for the current year.

Insider Activity at Ciena

In other Ciena news, CEO Gary B. Smith sold 70,838 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $54.11, for a total transaction of $3,833,044.18. Following the transaction, the chief executive officer now directly owns 424,006 shares in the company, valued at $22,942,964.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gary B. Smith sold 70,838 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.11, for a total transaction of $3,833,044.18. Following the sale, the chief executive officer now owns 424,006 shares of the company’s stock, valued at $22,942,964.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 4,166 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $46.35, for a total transaction of $193,094.10. Following the completion of the transaction, the chief executive officer now directly owns 402,676 shares of the company’s stock, valued at approximately $18,664,032.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,288 shares of company stock worth $5,417,833. Insiders own 0.99% of the company’s stock.

About Ciena

(Free Report)

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.

Read More

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.