Ciena Corporation $CIEN Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its stake in Ciena Corporation (NYSE:CIEN) by 82.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,203 shares of the communications equipment provider’s stock after buying an additional 544 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Ciena were worth $98,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd lifted its holdings in shares of Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 164 shares during the last quarter. National Bank of Canada FI raised its position in Ciena by 15.4% in the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 153 shares during the period. UMB Bank n.a. raised its position in Ciena by 27.3% in the second quarter. UMB Bank n.a. now owns 1,556 shares of the communications equipment provider’s stock valued at $127,000 after purchasing an additional 334 shares during the period. Quarry LP lifted its stake in Ciena by 65.6% during the first quarter. Quarry LP now owns 1,593 shares of the communications equipment provider’s stock worth $96,000 after purchasing an additional 631 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Ciena during the second quarter worth $180,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Stock Performance

NYSE:CIEN opened at $206.86 on Wednesday. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $214.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52. The firm has a market capitalization of $29.18 billion, a PE ratio of 213.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business’s fifty day moving average price is $157.90 and its 200 day moving average price is $109.03.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share for the quarter. The business had revenue of $844.44 million for the quarter. Ciena had a return on equity of 6.62% and a net margin of 3.10%. On average, sell-side analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Ciena

In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $169.36, for a total value of $59,276.00. Following the transaction, the senior vice president directly owned 40,653 shares of the company’s stock, valued at $6,884,992.08. The trade was a 0.85% decrease in their position. 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 the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $92.93, for a total transaction of $631,924.00. Following the sale, the chief executive officer owned 305,157 shares of the company’s stock, valued at approximately $28,358,240.01. This represents a 2.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 52,174 shares of company stock valued at $7,231,504. 0.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CIEN shares. Wall Street Zen lowered Ciena from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus boosted their price target on shares of Ciena from $120.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Needham & Company LLC raised their price objective on shares of Ciena from $90.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Argus lifted their price objective on shares of Ciena from $100.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Evercore ISI increased their target price on shares of Ciena from $120.00 to $200.00 and gave the stock an “in-line” rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.20.

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.