Kapitalo Investimentos Ltda Buys Shares of 666 Ciena Co. (NYSE:CIEN)

Kapitalo Investimentos Ltda purchased a new position in shares of Ciena Co. (NYSE:CIEN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 666 shares of the communications equipment provider’s stock, valued at approximately $30,000.

A number of other large investors have also made changes to their positions in the stock. Hsbc Holdings PLC grew its position in Ciena by 87.0% during the third quarter. Hsbc Holdings PLC now owns 50,597 shares of the communications equipment provider’s stock worth $2,407,000 after buying an additional 23,544 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ciena by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 949,476 shares of the communications equipment provider’s stock valued at $42,736,000 after purchasing an additional 18,860 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in Ciena by 34.4% during the third quarter. DigitalBridge Group Inc. now owns 352,727 shares of the communications equipment provider’s stock worth $16,670,000 after purchasing an additional 90,206 shares during the last quarter. HighTower Advisors LLC boosted its position in Ciena by 2.2% during the third quarter. HighTower Advisors LLC now owns 17,585 shares of the communications equipment provider’s stock worth $833,000 after purchasing an additional 376 shares in the last quarter. Finally, Capital Fund Management S.A. grew its holdings in Ciena by 67.3% in the fourth quarter. Capital Fund Management S.A. now owns 225,172 shares of the communications equipment provider’s stock valued at $10,135,000 after purchasing an additional 90,610 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CIEN shares. B. Riley decreased their price objective on shares of Ciena from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Raymond James lowered shares of Ciena from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $59.00 to $54.00 in a research report on Thursday, June 6th. StockNews.com upgraded Ciena from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. BNP Paribas assumed coverage on Ciena in a report on Thursday, April 11th. They set an “outperform” rating and a $57.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Ciena in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Ciena has an average rating of “Moderate Buy” and a consensus price target of $57.25.

Insider Transactions at Ciena

In related news, CEO Gary B. Smith sold 4,166 shares of Ciena stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.39, for a total value of $205,758.74. Following the transaction, the chief executive officer now owns 389,275 shares in the company, valued at $19,226,292.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Joseph Cumello sold 1,288 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $49.00, for a total value of $63,112.00. Following the transaction, the senior vice president now owns 49,883 shares of the company’s stock, valued at approximately $2,444,267. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 4,166 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.39, for a total transaction of $205,758.74. Following the sale, the chief executive officer now directly owns 389,275 shares of the company’s stock, valued at $19,226,292.25. The disclosure for this sale can be found here. Insiders sold a total of 21,641 shares of company stock worth $1,031,032 in the last ninety days. Insiders own 0.83% of the company’s stock.

Ciena Stock Up 0.9 %

Shares of NYSE:CIEN opened at $47.00 on Friday. The company has a current ratio of 3.88, a quick ratio of 2.76 and a debt-to-equity ratio of 0.53. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 4.57 and a beta of 0.99. The stock’s 50-day moving average price is $47.36 and its two-hundred day moving average price is $49.36. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. Ciena had a net margin of 3.71% and a return on equity of 7.16%. The business had revenue of $910.80 million for the quarter, compared to analyst estimates of $895.80 million. During the same period in the prior year, the firm posted $0.59 EPS. The company’s revenue was down 19.6% on a year-over-year basis. On average, research analysts forecast that Ciena Co. will post 1.22 EPS for the current year.

Ciena 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.