28,032 Shares in Ciena Corporation $CIEN Purchased by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda acquired a new position in Ciena Corporation (NYSE:CIEN) during the 1st quarter, HoldingsChannel reports. The fund acquired 28,032 shares of the communications equipment provider’s stock, valued at approximately $10,883,000. Ciena makes up about 3.3% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 9th biggest holding.

Several other large investors also recently bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Ciena by 2,100.0% in the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 84 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Ciena by 635.7% during the first quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 89 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in Ciena by 71.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Western Wealth Management LLC acquired a new position in Ciena in the 1st quarter valued at $49,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Ciena by 85.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 141 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 65 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Ciena Price Performance

NYSE:CIEN opened at $377.33 on Monday. Ciena Corporation has a 52 week low of $84.41 and a 52 week high of $637.51. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $53.41 billion, a P/E ratio of 125.78 and a beta of 1.30. The stock’s fifty day moving average is $457.45 and its two-hundred day moving average is $414.78.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. Ciena’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts expect that Ciena Corporation will post 5.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James Financial lifted their target price on shares of Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Argus set a $650.00 price target on shares of Ciena in a research report on Friday, June 5th. Northland Securities set a $450.00 price objective on shares of Ciena in a research note on Friday, June 5th. UBS Group reiterated a “buy” rating on shares of Ciena in a report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $615.00 target price on shares of Ciena in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Ciena presently has an average rating of “Moderate Buy” and an average target price of $530.56.

Insider Transactions at Ciena

In related news, SVP Joseph Cumello sold 1,586 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $466.33, for a total transaction of $739,599.38. Following the completion of the transaction, the senior vice president owned 42,872 shares of the company’s stock, valued at approximately $19,992,499.76. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of Ciena stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the completion of the sale, the senior vice president owned 62,382 shares of the company’s stock, valued at $29,082,488.40. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 18,675 shares of company stock worth $9,387,576. 0.58% of the stock is owned by company insiders.

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.