Ciena Corporation $CIEN Shares Acquired by World Investment Advisors

World Investment Advisors boosted its stake in shares of Ciena Corporation (NYSE:CIEN) by 33.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,028 shares of the communications equipment provider’s stock after purchasing an additional 999 shares during the quarter. World Investment Advisors’ holdings in Ciena were worth $942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its position in Ciena by 9.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 710 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 63 shares during the period. Assetmark Inc. raised its stake in Ciena by 50.4% during the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Ciena by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider’s stock valued at $695,000 after acquiring an additional 79 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Ciena by 3.2% during the 4th quarter. Wealthfront Advisers LLC now owns 2,612 shares of the communications equipment provider’s stock valued at $611,000 after acquiring an additional 82 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake in Ciena by 42.5% during the 3rd quarter. Clearstead Advisors LLC now owns 312 shares of the communications equipment provider’s stock valued at $45,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CIEN. Raymond James Financial reaffirmed an “outperform” rating and set a $320.00 target price on shares of Ciena in a research note on Thursday, March 5th. JPMorgan Chase & Co. lifted their target price on Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. TD Cowen lifted their target price on Ciena from $425.00 to $675.00 and gave the company a “buy” rating in a research note on Friday. Evercore set a $330.00 target price on Ciena in a research note on Thursday, February 19th. Finally, Morgan Stanley lifted their target price on Ciena from $286.00 to $405.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ciena has a consensus rating of “Moderate Buy” and a consensus price target of $381.44.

Ciena Stock Down 0.0%

CIEN opened at $554.26 on Monday. Ciena Corporation has a one year low of $70.77 and a one year high of $598.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.14 and a current ratio of 2.81. The stock’s fifty day moving average is $454.25 and its 200-day moving average is $316.08. The company has a market capitalization of $78.37 billion, a PE ratio of 353.04, a P/E/G ratio of 1.81 and a beta of 1.24.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts predict that Ciena Corporation will post 5.12 EPS for the current fiscal year.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $471.79, for a total value of $566,148.00. Following the sale, the senior vice president owned 45,141 shares of the company’s stock, valued at approximately $21,297,072.39. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $537.74, for a total value of $1,587,408.48. Following the completion of the sale, the chief executive officer directly owned 275,461 shares in the company, valued at $148,126,398.14. This represents a 1.06% 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 have sold 42,974 shares of company stock valued at $17,418,863. Corporate insiders own 0.58% of the company’s stock.

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.