22,624 Shares in Ciena Co. (NYSE:CIEN) Bought by F M Investments LLC

F M Investments LLC purchased a new stake in Ciena Co. (NYSE:CIEN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,624 shares of the communications equipment provider’s stock, valued at approximately $1,919,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Ciena by 108.6% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 151 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 296 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ciena by 328.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 279 shares in the last quarter. Atlas Capital Advisors Inc. lifted its position in shares of Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Ciena during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CIEN shares. Barclays set a $100.00 price target on Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Citigroup raised their target price on Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lowered their price target on Ciena from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $84.00 to $88.00 in a report on Tuesday, January 28th. Finally, Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Four equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Ciena Stock Up 0.6 %

CIEN stock opened at $58.70 on Friday. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 102.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a fifty day moving average price of $71.84 and a 200 day moving average price of $74.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44.

Insider Buying and Selling at Ciena

In related news, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.29, for a total transaction of $579,972.00. Following the completion of the sale, the chief executive officer now directly owns 418,949 shares of the company’s stock, valued at $35,732,160.21. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the transaction, the senior vice president now directly owns 49,547 shares in the company, valued at $4,256,582.77. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,288 shares of company stock worth $3,484,670. 0.93% of the stock is owned by company insiders.

Ciena Company Profile

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.