Ciena Corp. (NYSE:CIEN) VP James Frodsham sold 2,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $22.40, for a total transaction of $44,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

James Frodsham also recently made the following trade(s):

  • On Monday, November 14th, James Frodsham sold 2,000 shares of Ciena Corp. stock. The shares were sold at an average price of $22.21, for a total transaction of $44,420.00.
  • On Wednesday, September 21st, James Frodsham sold 2,679 shares of Ciena Corp. stock. The shares were sold at an average price of $21.45, for a total transaction of $57,464.55.

Shares of Ciena Corp. (NYSE:CIEN) traded down 2.392% on Thursday, reaching $21.991. The company’s stock had a trading volume of 1,918,015 shares. The stock has a market capitalization of $3064.25 billion, a P/E ratio of 157.079 and a beta of 1.72. Ciena Corp. has a 1-year low of $15.62 and a 1-year high of $25.46. The company has a 50 day moving average of $20.87 and a 200 day moving average of $20.06.

Ciena Corp. (NYSE:CIEN) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. Ciena Corp. had a return on equity of 22.41% and a net margin of 0.86%. The company earned $670.60 million during the quarter, compared to analysts’ expectations of $672.23 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts expect that Ciena Corp. will post $1.43 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Ciena Corp. (NYSE:CIEN)

Several large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its stake in Ciena Corp. by 7.8% in the third quarter. BlackRock Fund Advisors now owns 7,746,132 shares of the company’s stock valued at $168,866,000 after buying an additional 563,065 shares during the period. Parnassus Investments CA boosted its stake in Ciena Corp. by 7.1% in the second quarter. Parnassus Investments CA now owns 6,000,000 shares of the company’s stock valued at $112,500,000 after buying an additional 400,000 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Ciena Corp. by 73.4% in the third quarter. TIAA CREF Investment Management LLC now owns 5,115,370 shares of the company’s stock valued at $111,515,000 after buying an additional 2,164,957 shares during the period. Teachers Advisors LLC boosted its stake in Ciena Corp. by 48.9% in the third quarter. Teachers Advisors LLC now owns 4,960,818 shares of the company’s stock valued at $108,146,000 after buying an additional 1,629,867 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Ciena Corp. by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,073,165 shares of the company’s stock valued at $88,795,000 after buying an additional 150,598 shares during the period. Institutional investors and hedge funds own 96.36% of the company’s stock.

CIEN has been the subject of several research analyst reports. Citigroup Inc. increased their price objective on shares of Ciena Corp. from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, August 25th. Deutsche Bank AG increased their price objective on shares of Ciena Corp. from $17.00 to $18.50 and gave the company a “hold” rating in a research report on Monday, August 29th. Stifel Nicolaus initiated coverage on shares of Ciena Corp. in a research report on Friday, September 30th. They issued a “hold” rating and a $23.00 price objective for the company. Zacks Investment Research lowered shares of Ciena Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Finally, MKM Partners reaffirmed a “positive” rating and issued a $28.00 price objective on shares of Ciena Corp. in a research report on Friday, October 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $25.60.

About Ciena Corp.

Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching.

5 Day Chart for NYSE:CIEN

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