Triglav Investments D.O.O. Purchases Shares of 2,200 Ciena Corporation $CIEN

Triglav Investments D.O.O. purchased a new stake in Ciena Corporation (NYSE:CIEN) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 2,200 shares of the communications equipment provider’s stock, valued at approximately $854,000.

A number of other large investors also recently made changes to their positions in the business. Community Bank N.A. purchased a new stake in shares of Ciena in the third quarter valued at $25,000. Transamerica Financial Advisors LLC increased its stake in Ciena by 71.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Hilltop National Bank purchased a new position in Ciena during the fourth quarter worth about $35,000. Truvestments Capital LLC lifted its position in Ciena by 45.3% during the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 48 shares during the period. Finally, Bogart Wealth LLC boosted its stake in Ciena by 635.7% in the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

CIEN stock opened at $461.12 on Monday. The stock has a 50-day moving average price of $508.35 and a two-hundred day moving average price of $398.77. Ciena Corporation has a 12-month low of $76.89 and a 12-month high of $637.51. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The company has a market cap of $65.27 billion, a PE ratio of 153.71 and a beta of 1.27.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. As a group, research analysts predict that Ciena Corporation will post 5.4 EPS for the current year.

Insider Buying and Selling at Ciena

In other news, SVP Joseph Cumello sold 1,586 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $466.33, for a total value of $739,599.38. Following the transaction, the senior vice president owned 42,872 shares of the company’s stock, valued at approximately $19,992,499.76. This trade represents a 3.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of Ciena stock in a transaction on Friday, May 15th. The shares were sold at an average price of $562.05, for a total transaction of $1,659,171.60. Following the transaction, the chief executive officer owned 272,509 shares in the company, valued at $153,163,683.45. The trade was a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 22,827 shares of company stock worth $11,541,133. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CIEN has been the subject of several recent analyst reports. Raymond James Financial lifted their price target on Ciena from $320.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Rosenblatt Securities increased their price objective on shares of Ciena from $350.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Citigroup raised their target price on shares of Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. boosted their target price on shares of Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Rothschild & Co Redburn assumed coverage on shares of Ciena in a research report on Friday, May 1st. They set a “neutral” rating and a $416.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $530.56.

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.