Janus Henderson Group PLC Has $61.89 Million Stock Position in Ciena Co. (NYSE:CIEN)

Janus Henderson Group PLC grew its position in Ciena Co. (NYSE:CIEN) by 971.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 729,722 shares of the communications equipment provider’s stock after purchasing an additional 661,630 shares during the period. Janus Henderson Group PLC owned about 0.51% of Ciena worth $61,891,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CIEN. Vanguard Group Inc. boosted its stake in Ciena by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock valued at $1,299,004,000 after purchasing an additional 139,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Ciena by 0.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider’s stock valued at $444,143,000 after acquiring an additional 17,447 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Ciena by 195.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider’s stock valued at $392,345,000 after acquiring an additional 3,062,883 shares in the last quarter. Bank of America Corp DE raised its holdings in Ciena by 1.6% in the 4th quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider’s stock valued at $273,684,000 after acquiring an additional 49,996 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Ciena by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider’s stock valued at $205,301,000 after acquiring an additional 11,933 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $71.90, for a total transaction of $488,920.00. Following the sale, the chief executive officer now owns 368,880 shares of the company’s stock, valued at $26,522,472. The trade was a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jason Phipps sold 18,888 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the transaction, the senior vice president now directly owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,288 shares of company stock valued at $3,211,852. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CIEN has been the subject of a number of recent research reports. Citigroup dropped their target price on Ciena from $98.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 14th. Barclays set a $100.00 target price on Ciena and gave the stock an “overweight” rating in a report on Wednesday, March 12th. Needham & Company LLC dropped their target price on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on Ciena from $88.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and a consensus target price of $77.62.

Ciena Price Performance

CIEN stock opened at $80.57 on Wednesday. The company has a market capitalization of $11.45 billion, a P/E ratio of 141.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a 52-week low of $44.69 and a 52-week high of $101.44. The business has a 50-day simple moving average of $64.56 and a two-hundred day simple moving average of $74.31.

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.