09 Feb Lawyer Jon Cartu Claims – Ciena Co. (NYSE:CIEN) Director Sells $83,960.00 in Stock
Ciena Co. (NYSE:CIEN) Director Thomas Michael Nevens sold 2,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $41.98, for a total transaction of $83,960.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Thomas Michael Nevens also recently made the following trade(s):
- On Monday, November 11th, Thomas Michael Nevens sold 2,000 shares of Ciena stock. The stock was sold at an average price of $37.17, for a total transaction of $74,340.00.
CIEN stock traded down $0.84 during mid-day trading on Friday, hitting $42.64. The company had a trading volume of 1,836,281 shares, compared to its average volume of 1,630,754. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 1.09 and a beta of 1.11. Ciena Co. has a 12-month low of $32.76 and a 12-month high of $46.78. The company has a quick ratio of 2.41, a current ratio of 2.82 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $42.29 and a 200 day moving average price of $40.17.
Ciena (NYSE:CIEN) last posted its earnings results on Thursday, December 12th. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Ciena had a return on equity of 13.67% and a net margin of 7.09%. The business had revenue of $968.00 million during the quarter, compared to the consensus estimate of $966.28 million. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Ciena Co. will post 2.3 EPS for the current year.
Several equities research analysts recently weighed in on CIEN shares. Morgan Stanley raised shares of Ciena from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $47.00 to $50.00 in a research report on Wednesday, January 8th. B. Riley set a $56.00 price target on shares of Ciena and gave the company a “buy” rating in a research report on Friday, October 25th. Nomura raised their price target on shares of Ciena from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Dougherty & Co raised their price target on shares of Ciena from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group downgraded shares of Ciena from a “neutral” rating to a “sell” rating and cut their target price for the stock from $43.00 to $31.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $49.09.
Several institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC grew its holdings in Ciena by 102.1% during the 4th quarter. Global Retirement Partners LLC now owns 857 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 433 shares during the last quarter. CENTRAL TRUST Co bought a new position in Ciena during the 3rd quarter valued at about $39,000. MUFG Americas Holdings Corp bought a new position in Ciena during the 3rd quarter valued at about $55,000. Flagship Harbor Advisors LLC grew its holdings in Ciena by 134.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,509 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 864 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in Ciena by 48.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,586 shares of the communications equipment provider’s stock valued at $62,000 after purchasing an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.
Ciena Company Profile
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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