Greenleaf Trust Boosts Stock Position in Ciena Co. (NYSE:CIEN)

Greenleaf Trust increased its stake in shares of Ciena Co. (NYSE:CIEN) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,978 shares of the communications equipment provider’s stock after acquiring an additional 136 shares during the quarter. Greenleaf Trust’s holdings in Ciena were worth $422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hoese & Co LLP acquired a new stake in Ciena during the third quarter worth $25,000. UMB Bank n.a. grew its holdings in shares of Ciena by 424.4% during the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 365 shares during the period. Versant Capital Management Inc increased its position in shares of Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Ciena by 152.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 512 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in Ciena in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Activity at Ciena

In related news, SVP Joseph Cumello sold 1,289 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $68.99, for a total value of $88,928.11. Following the completion of the transaction, the senior vice president now directly owns 39,486 shares of the company’s stock, valued at $2,724,139.14. This represents a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $89.09, for a total transaction of $311,815.00. Following the completion of the transaction, the senior vice president now owns 192,997 shares in the company, valued at $17,194,102.73. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,581 shares of company stock valued at $4,875,548 over the last quarter. 0.83% of the stock is owned by insiders.

Ciena Stock Performance

Shares of Ciena stock opened at $92.15 on Thursday. The business has a 50-day simple moving average of $83.16 and a 200-day simple moving average of $68.01. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The company has a market cap of $13.10 billion, a PE ratio of 161.67, a P/E/G ratio of 1.55 and a beta of 0.88.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned $0.56 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Ciena Co. will post 1.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CIEN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Barclays lifted their target price on shares of Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Rosenblatt Securities upped their price target on Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Citigroup lifted their price objective on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Evercore ISI lowered Ciena from an “outperform” rating to an “in-line” rating and set a $65.00 target price on the stock. in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

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.