Swiss Life Asset Management Ltd Has $6.89 Million Holdings in Ciena Corporation $CIEN

Swiss Life Asset Management Ltd raised its holdings in Ciena Corporation (NYSE:CIEN) by 344.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,457 shares of the communications equipment provider’s stock after acquiring an additional 22,822 shares during the period. Swiss Life Asset Management Ltd’s holdings in Ciena were worth $6,889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lone Pine Capital LLC acquired a new stake in shares of Ciena in the 3rd quarter valued at approximately $292,310,000. Atreides Management LP bought a new position in Ciena in the 2nd quarter valued at approximately $102,705,000. JPMorgan Chase & Co. boosted its position in Ciena by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider’s stock valued at $941,451,000 after buying an additional 1,219,787 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock worth $166,625,000 after buying an additional 1,093,557 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Ciena by 3,577.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,032,393 shares of the communications equipment provider’s stock worth $83,965,000 after buying an additional 1,004,323 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CIEN shares. Morgan Stanley boosted their price objective on Ciena from $286.00 to $405.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a report on Friday, March 13th. Needham & Company LLC raised their price objective on shares of Ciena from $280.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Barclays boosted their target price on shares of Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Finally, Evercore set a $330.00 price target on shares of Ciena in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $367.56.

Ciena Stock Performance

Shares of CIEN stock opened at $578.44 on Thursday. The stock has a market capitalization of $81.79 billion, a PE ratio of 368.44, a PEG ratio of 1.89 and a beta of 1.24. The business’s 50 day simple moving average is $444.88 and its 200 day simple moving average is $310.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. Ciena Corporation has a one year low of $70.77 and a one year high of $598.84.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.18. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, research analysts forecast that Ciena Corporation will post 5.12 earnings per share for the current year.

Insider Activity at Ciena

In other Ciena news, SVP Jason Phipps sold 22,014 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the transaction, the senior vice president directly owned 68 shares in the company, valued at approximately $27,866.40. This represents a 99.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the sale, the senior vice president directly owned 46,341 shares of the company’s stock, valued at approximately $18,768,105. This trade represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,974 shares of company stock worth $17,418,863 over the last quarter. Company insiders own 0.58% of the company’s stock.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.