Ciena Co. (NYSE:CIEN) Shares Sold by Profund Advisors LLC

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Profund Advisors LLC reduced its stake in Ciena Co. (NYSE:CIEN) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,000 shares of the communications equipment provider’s stock after selling 3,930 shares during the period. Profund Advisors LLC’s holdings in Ciena were worth $3,159,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CIEN. FMR LLC grew its holdings in shares of Ciena by 605.3% during the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after buying an additional 1,072,632 shares during the last quarter. Voya Investment Management LLC lifted its position in Ciena by 435.3% in the third quarter. Voya Investment Management LLC now owns 147,092 shares of the communications equipment provider’s stock valued at $5,770,000 after purchasing an additional 119,615 shares during the period. State Street Corp lifted its position in Ciena by 6.1% in the third quarter. State Street Corp now owns 3,771,741 shares of the communications equipment provider’s stock valued at $147,965,000 after purchasing an additional 215,427 shares during the period. California State Teachers Retirement System lifted its position in Ciena by 0.3% in the third quarter. California State Teachers Retirement System now owns 246,947 shares of the communications equipment provider’s stock valued at $9,688,000 after purchasing an additional 667 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in Ciena by 9.4% in the third quarter. Parametric Portfolio Associates LLC now owns 331,365 shares of the communications equipment provider’s stock valued at $12,999,000 after purchasing an additional 28,528 shares during the period. 92.94% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Scott Mcfeely sold 1,400 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $35.77, for a total transaction of $50,078.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David M. Rothenstein sold 1,632 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $36.75, for a total transaction of $59,976.00. The disclosure for this sale can be found here. Insiders sold a total of 36,932 shares of company stock valued at $1,544,801 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

A number of research firms have recently issued reports on CIEN. ValuEngine upgraded shares of Ciena from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Zacks Investment Research downgraded shares of Ciena from a “hold” rating to a “sell” rating and set a $45.00 price target for the company. in a research report on Friday, December 13th. Stifel Nicolaus reiterated a “buy” rating and set a $54.00 price target on shares of Ciena in a research report on Thursday, December 12th. Nomura lifted their price target on shares of Ciena from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Cowen reiterated a “buy” rating and set a $54.00 price target on shares of Ciena in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. Ciena has a consensus rating of “Buy” and a consensus target price of $49.89.

Shares of Ciena stock traded up $2.26 during trading on Thursday, hitting $40.83. 2,090,291 shares of the company were exchanged, compared to its average volume of 2,047,832. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 0.31. Ciena Co. has a fifty-two week low of $30.58 and a fifty-two week high of $46.78. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 0.94 and a beta of 1.03. The firm has a 50 day moving average price of $40.39 and a 200 day moving average price of $39.64.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, March 5th. The communications equipment provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.14. The firm had revenue of $832.91 million during the quarter, compared to analysts’ expectations of $818.48 million. Ciena had a net margin of 7.78% and a return on equity of 14.68%. Ciena’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. Analysts predict that Ciena Co. will post 2.39 earnings per share for the current year.

About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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