Quadrant Capital Group LLC Acquires 8,130 Shares of Ciena Corporation $CIEN

Quadrant Capital Group LLC boosted its holdings in Ciena Corporation (NYSE:CIEN) by 130.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,351 shares of the communications equipment provider’s stock after acquiring an additional 8,130 shares during the quarter. Quadrant Capital Group LLC’s holdings in Ciena were worth $1,167,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ciena during the first quarter worth about $1,137,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ciena by 0.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,910 shares of the communications equipment provider’s stock worth $2,351,000 after buying an additional 178 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Ciena by 28.6% in the 1st quarter. LPL Financial LLC now owns 48,879 shares of the communications equipment provider’s stock worth $2,954,000 after buying an additional 10,856 shares in the last quarter. Vestcor Inc bought a new position in shares of Ciena during the 1st quarter worth approximately $609,000. Finally, Bayforest Capital Ltd boosted its stake in Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock valued at $38,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CIEN shares. Stifel Nicolaus increased their price objective on Ciena from $120.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Evercore ISI boosted their target price on shares of Ciena from $120.00 to $200.00 and gave the company an “in-line” rating in a research note on Monday, November 10th. Wall Street Zen cut shares of Ciena from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Bank of America lifted their price target on shares of Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Citigroup boosted their price target on shares of Ciena from $141.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.20.

Insider Activity at Ciena

In related news, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $209.45, for a total value of $1,424,260.00. Following the completion of the sale, the chief executive officer owned 261,670 shares of the company’s stock, valued at $54,806,781.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total value of $59,276.00. Following the transaction, the senior vice president directly owned 40,653 shares in the company, valued at approximately $6,884,992.08. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 51,935 shares of company stock valued at $8,029,442 over the last three months. 0.93% of the stock is owned by company insiders.

Ciena Stock Performance

Ciena stock opened at $205.56 on Friday. The stock has a 50-day simple moving average of $175.20 and a 200 day simple moving average of $119.75. The stock has a market capitalization of $28.99 billion, a price-to-earnings ratio of 211.91, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $214.17.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. The firm had revenue of $844.44 million during the quarter. On average, research analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current fiscal 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.