Ciena Co. (NYSE:CIEN) Holdings Decreased by Proficio Capital Partners LLC

Proficio Capital Partners LLC lessened its stake in Ciena Co. (NYSE:CIEN) by 24.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,434 shares of the communications equipment provider’s stock after selling 7,072 shares during the quarter. Proficio Capital Partners LLC’s holdings in Ciena were worth $1,818,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CIEN. FMR LLC lifted its stake in shares of Ciena by 0.5% in the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider’s stock worth $1,334,290,000 after acquiring an additional 108,407 shares during the period. State Street Corp raised its holdings in Ciena by 1.2% during the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock worth $273,427,000 after purchasing an additional 53,078 shares in the last quarter. Geode Capital Management LLC lifted its position in Ciena by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after purchasing an additional 33,074 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ciena by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock valued at $81,403,000 after purchasing an additional 4,315 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Ciena during the 3rd quarter valued at $57,861,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insiders Place Their Bets

In other Ciena news, SVP Dino Diperna sold 2,682 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $87.64, for a total value of $235,050.48. Following the transaction, the senior vice president now directly owns 50,607 shares of the company’s stock, valued at $4,435,197.48. This represents a 5.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the sale, the senior vice president now directly owns 49,547 shares of the company’s stock, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,742 shares of company stock worth $5,469,173. 0.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CIEN. JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and raised their target price for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective (up previously from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Barclays set a $100.00 target price on shares of Ciena and gave the stock an “overweight” rating in a report on Wednesday, March 12th. Rosenblatt Securities reduced their target price on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.38.

Ciena Price Performance

CIEN opened at $65.84 on Thursday. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $9.36 billion, a P/E ratio of 115.52, a PEG ratio of 1.54 and a beta of 0.91. The stock has a fifty day moving average of $81.24 and a 200-day moving average of $73.48.

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.