800 Shares in Ciena Co. (NYSE:CIEN) Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. purchased a new position in shares of Ciena Co. (NYSE:CIEN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 800 shares of the communications equipment provider’s stock, valued at approximately $68,000.

Other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust raised its stake in shares of Ciena by 2.8% in the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock worth $422,000 after purchasing an additional 136 shares during the last quarter. US Bancorp DE raised its stake in shares of Ciena by 1.5% in the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock worth $887,000 after purchasing an additional 152 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Ciena by 3.8% in the third quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock worth $292,000 after purchasing an additional 175 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Ciena by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock worth $379,000 after purchasing an additional 226 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Ciena by 4.9% in the fourth quarter. QRG Capital Management Inc. now owns 4,914 shares of the communications equipment provider’s stock worth $417,000 after purchasing an additional 228 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Price Performance

Ciena stock opened at $65.70 on Tuesday. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The business has a fifty day moving average price of $81.92 and a 200-day moving average price of $73.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The firm has a market capitalization of $9.34 billion, a P/E ratio of 115.27, a PEG ratio of 1.54 and a beta of 0.91.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the sale, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $76.41, for a total value of $519,588.00. Following the completion of the sale, the chief executive officer now owns 398,549 shares in the company, valued at $30,453,129.09. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,942 shares of company stock valued at $5,025,949 over the last three months. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Rosenblatt Securities decreased their price target on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Citigroup increased their price target on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

About Ciena

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.