Ciena Co. (NYSE:CIEN) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its position in Ciena Co. (NYSE:CIEN) by 218.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,749 shares of the communications equipment provider’s stock after acquiring an additional 2,573 shares during the quarter. NewEdge Advisors LLC’s holdings in Ciena were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CIEN. EAM Global Investors LLC purchased a new stake in shares of Ciena in the fourth quarter worth about $4,993,000. EAM Investors LLC purchased a new position in Ciena in the 4th quarter worth approximately $5,389,000. Insigneo Advisory Services LLC acquired a new stake in Ciena in the fourth quarter valued at approximately $239,000. XTX Topco Ltd grew its position in Ciena by 114.5% in the fourth quarter. XTX Topco Ltd now owns 21,831 shares of the communications equipment provider’s stock valued at $1,851,000 after acquiring an additional 11,654 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of Ciena by 21.3% during the fourth quarter. Mariner LLC now owns 49,359 shares of the communications equipment provider’s stock valued at $4,186,000 after purchasing an additional 8,655 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling

In other Ciena news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, the senior vice president now directly owns 49,197 shares of the company’s stock, valued at $4,435,601.52. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $68.88, for a total transaction of $172,200.00. Following the completion of the sale, the senior vice president now owns 207,370 shares in the company, valued at $14,283,645.60. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,288 shares of company stock valued at $3,299,980. Insiders own 0.93% of the company’s stock.

Ciena Stock Performance

Shares of NYSE CIEN opened at $67.04 on Thursday. The stock has a market capitalization of $9.53 billion, a P/E ratio of 117.62, a P/E/G ratio of 1.54 and a beta of 1.15. The firm’s 50-day moving average price is $64.89 and its two-hundred day moving average price is $73.72. Ciena Co. has a 52-week low of $44.69 and a 52-week high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Northland Securities raised shares of Ciena from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Northland Capmk upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Morgan Stanley dropped their target price on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Citigroup reduced their price target on Ciena from $98.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, B. Riley restated a “buy” rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ciena has an average rating of “Moderate Buy” and a consensus price target of $77.62.

About Ciena

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.