Quantinno Capital Management LP Increases Stake in Ciena Co. (NYSE:CIEN)

Quantinno Capital Management LP increased its holdings in Ciena Co. (NYSE:CIEN) by 49.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,023 shares of the communications equipment provider’s stock after purchasing an additional 9,916 shares during the quarter. Quantinno Capital Management LP’s holdings in Ciena were worth $2,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Bessemer Group Inc. increased its stake in shares of Ciena by 73.7% during the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 279 shares in the last quarter. Atlas Capital Advisors Inc. lifted its stake in Ciena by 77.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 183 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in Ciena in the fourth quarter valued at $41,000. 91.99% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the completion of the sale, the senior vice president now directly owns 89,258 shares in the company, valued at $5,344,769.04. The trade was a 17.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $79.89, for a total transaction of $543,252.00. Following the completion of the sale, the chief executive officer now directly owns 362,080 shares of the company’s stock, valued at approximately $28,926,571.20. This trade represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,588 shares of company stock worth $3,950,907 over the last 90 days. 0.93% of the stock is currently owned by insiders.

Ciena Stock Performance

Shares of CIEN stock opened at $80.95 on Wednesday. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 142.02, 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 one year low of $44.69 and a one year high of $101.44. The company’s 50-day moving average is $66.07 and its 200 day moving average is $74.87.

Wall Street Analyst Weigh In

Several research analysts have commented on CIEN shares. Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Needham & Company LLC lowered their price objective on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Rosenblatt Securities reduced their target price on Ciena from $73.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their target price on Ciena from $88.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, B. Riley reaffirmed a “buy” rating and issued a $89.00 price target (down from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and a consensus price target of $77.62.

Ciena 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.