Ciena Co. (NYSE:CIEN) VP Andrew C. Petrik sold 1,839 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $23.70, for a total value of $43,584.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Andrew C. Petrik also recently made the following trade(s):
- On Monday, April 17th, Andrew C. Petrik sold 1,852 shares of Ciena stock. The shares were sold at an average price of $21.66, for a total value of $40,114.32.
- On Tuesday, March 21st, Andrew C. Petrik sold 588 shares of Ciena stock. The shares were sold at an average price of $23.95, for a total value of $14,082.60.
Shares of Ciena Co. (NYSE:CIEN) traded up 1.19% on Friday, hitting $22.95. The stock had a trading volume of 1,681,742 shares. The company has a 50-day moving average of $22.74 and a 200 day moving average of $23.40. Ciena Co. has a 52 week low of $15.95 and a 52 week high of $26.84. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 37.68 and a beta of 1.66.
Ciena (NYSE:CIEN) last issued its quarterly earnings results on Wednesday, March 8th. The communications equipment provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.03. The business had revenue of $621.50 million for the quarter, compared to analysts’ expectations of $632.29 million. Ciena had a net margin of 2.79% and a return on equity of 23.37%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 earnings per share. On average, equities research analysts predict that Ciena Co. will post $1.69 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ciena by 187.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,568 shares of the communications equipment provider’s stock worth $252,000 after buying an additional 7,542 shares during the last quarter. Marcus Capital LLC increased its stake in Ciena by 4.0% in the third quarter. Marcus Capital LLC now owns 135,050 shares of the communications equipment provider’s stock worth $2,944,000 after buying an additional 5,200 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Ciena during the fourth quarter worth about $374,000. Texas Permanent School Fund increased its stake in Ciena by 6.4% in the third quarter. Texas Permanent School Fund now owns 105,216 shares of the communications equipment provider’s stock worth $2,294,000 after buying an additional 6,353 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its stake in Ciena by 80.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 32,358 shares of the communications equipment provider’s stock worth $789,000 after buying an additional 14,400 shares in the last quarter. 95.25% of the stock is owned by institutional investors.
CIEN has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Ciena in a research note on Tuesday, March 21st. Instinet restated a “buy” rating and issued a $27.00 target price on shares of Ciena in a research note on Saturday, March 11th. B. Riley reiterated a “buy” rating and set a $33.75 price objective on shares of Ciena in a research note on Monday, March 6th. Cowen and Company reiterated an “outperform” rating and set a $35.00 price objective on shares of Ciena in a research note on Monday, March 6th. Finally, Goldman Sachs Group Inc lowered Ciena from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Thursday, March 16th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Ciena currently has an average rating of “Buy” and an average price target of $28.13.
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.
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