Ciena Co. (NYSE:CIEN) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its position in Ciena Co. (NYSE:CIEN) by 51.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,267 shares of the communications equipment provider’s stock after purchasing an additional 431 shares during the period. Farther Finance Advisors LLC’s holdings in Ciena were worth $107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its position in 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 acquiring an additional 296 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Ciena by 409.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 418 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 512 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Ciena during the 4th quarter worth approximately $59,000. Finally, UMB Bank n.a. lifted its position in Ciena by 59.2% during the 4th quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider’s stock worth $61,000 after acquiring an additional 267 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIEN has been the topic of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $82.00 price target (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Needham & Company LLC reduced their price target on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. B. Riley reaffirmed a “buy” rating and issued a $89.00 target price (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Citigroup upped their target price on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Ciena Price Performance

Shares of NYSE CIEN opened at $65.47 on Friday. Ciena Co. has a twelve month low of $43.30 and a twelve month high of $101.44. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 114.86, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The business has a 50 day simple moving average of $80.57 and a 200-day simple moving average of $73.48.

Insider Activity

In related news, Director Bruce L. Claflin sold 16,912 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the completion of the transaction, the director now directly owns 59,347 shares in the company, valued at $5,042,121.12. This represents a 22.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the transaction, the senior vice president now owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. The trade was 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 insiders.

Ciena Company 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.