Ciena Co. (NYSE:CIEN) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in Ciena Co. (NYSE:CIEN) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,526 shares of the communications equipment provider’s stock after selling 2,553 shares during the period. Amalgamated Bank owned 0.06% of Ciena worth $4,165,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Ciena in the 3rd quarter valued at about $101,000. Smithfield Trust Co increased its position in Ciena by 74.5% in the 3rd quarter. Smithfield Trust Co now owns 2,999 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 1,280 shares during the period. Operose Advisors LLC boosted its holdings in Ciena by 19.0% in the 3rd quarter. Operose Advisors LLC now owns 3,214 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 514 shares in the last quarter. Claret Asset Management Corp purchased a new stake in Ciena in the 3rd quarter valued at approximately $203,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in Ciena in the 3rd quarter valued at approximately $207,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Buying and Selling

In related news, SVP Brodie Gage sold 533 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the sale, the senior vice president now directly owns 41,372 shares of the company’s stock, valued at approximately $2,052,464.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ciena news, SVP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $50.19, for a total value of $175,665.00. Following the completion of the transaction, the senior vice president now directly owns 230,001 shares of the company’s stock, valued at approximately $11,543,750.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brodie Gage sold 533 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the sale, the senior vice president now owns 41,372 shares in the company, valued at approximately $2,052,464.92. The disclosure for this sale can be found here. In the last three months, insiders sold 36,351 shares of company stock valued at $1,921,835. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

CIEN has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on Ciena from $57.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. BNP Paribas initiated coverage on Ciena in a research note on Thursday, April 11th. They set an “outperform” rating and a $57.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Ciena from $56.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com upgraded Ciena from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Citigroup initiated coverage on Ciena in a research report on Friday, April 12th. They set a “sell” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.79.

Ciena Trading Up 0.8 %

CIEN stock opened at $49.22 on Thursday. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.19 and a beta of 1.00. The company has a quick ratio of 3.12, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $49.41 and a 200-day simple moving average of $48.46. Ciena Co. has a 52 week low of $39.94 and a 52 week high of $63.24.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.18. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Ciena had a return on equity of 9.92% and a net margin of 5.22%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. On average, equities research analysts expect that Ciena Co. will post 1.46 EPS for the current year.

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.