Ciena Co. (NYSE:CIEN) CEO Sells $426,048.00 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $44.38, for a total transaction of $426,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Gary B. Smith also recently made the following trade(s):

  • On Friday, May 24th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $35.16, for a total transaction of $337,536.00.
  • On Tuesday, May 14th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $33.41, for a total transaction of $320,736.00.
  • On Thursday, May 2nd, Gary B. Smith sold 4,800 shares of Ciena stock. The stock was sold at an average price of $38.78, for a total transaction of $186,144.00.
  • On Wednesday, April 24th, Gary B. Smith sold 4,800 shares of Ciena stock. The stock was sold at an average price of $40.15, for a total transaction of $192,720.00.
  • On Tuesday, April 9th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $37.21, for a total transaction of $357,216.00.
  • On Tuesday, March 26th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $37.25, for a total transaction of $357,600.00.
  • On Friday, March 15th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $39.49, for a total transaction of $379,104.00.

Ciena stock opened at $42.47 on Friday. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 37.92, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33. Ciena Co. has a twelve month low of $24.56 and a twelve month high of $46.23.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $865.00 million for the quarter, compared to analyst estimates of $818.23 million. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. Equities research analysts forecast that Ciena Co. will post 1.72 earnings per share for the current year.

CIEN has been the topic of a number of research reports. B. Riley boosted their target price on shares of Ciena from $42.20 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets boosted their price target on shares of Ciena from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Morgan Stanley set a $41.00 price target on shares of Ciena and gave the company a “hold” rating in a report on Friday, June 7th. Zacks Investment Research lowered shares of Ciena from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Citigroup boosted their price target on shares of Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $45.83.

A number of institutional investors have recently added to or reduced their stakes in the business. Oakbrook Investments LLC increased its stake in Ciena by 4.1% in the 1st quarter. Oakbrook Investments LLC now owns 10,100 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 400 shares during the period. Parkside Financial Bank & Trust increased its stake in Ciena by 29.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,789 shares of the communications equipment provider’s stock valued at $67,000 after buying an additional 409 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Ciena by 1.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,339 shares of the communications equipment provider’s stock valued at $946,000 after buying an additional 426 shares during the period. Advisor Group Inc. increased its stake in Ciena by 3.6% in the 4th quarter. Advisor Group Inc. now owns 12,838 shares of the communications equipment provider’s stock valued at $436,000 after buying an additional 444 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its stake in Ciena by 2.5% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 20,889 shares of the communications equipment provider’s stock valued at $780,000 after buying an additional 510 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Ciena Co. (NYSE:CIEN) CEO Sells $426,048.00 in Stock” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2019/06/14/ciena-co-nysecien-ceo-sells-426048-00-in-stock.html.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

Recommended Story: What is an SEC Filing?

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

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.