Corient Private Wealth LLC Has $1.68 Million Holdings in Ciena Co. (NYSE:CIEN)

Corient Private Wealth LLC boosted its holdings in Ciena Co. (NYSE:CIEN) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,829 shares of the communications equipment provider’s stock after purchasing an additional 233 shares during the quarter. Corient Private Wealth LLC’s holdings in Ciena were worth $1,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CIEN. PNC Financial Services Group Inc. boosted its stake in shares of Ciena by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 16,327 shares of the communications equipment provider’s stock valued at $1,006,000 after buying an additional 1,116 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 512 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ciena by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,516 shares of the communications equipment provider’s stock worth $58,850,000 after purchasing an additional 6,605 shares in the last quarter. Cerity Partners LLC increased its position in shares of Ciena by 70.3% in the third quarter. Cerity Partners LLC now owns 47,929 shares of the communications equipment provider’s stock worth $2,952,000 after purchasing an additional 19,785 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Ciena in the third quarter valued at about $35,403,000. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Up 6.2 %

NYSE:CIEN opened at $69.63 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The firm’s 50 day simple moving average is $80.32 and its 200 day simple moving average is $73.86. The company has a market cap of $9.90 billion, a PE ratio of 122.16, a P/E/G ratio of 1.54 and a beta of 0.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Morgan Stanley cut their target price on Ciena from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Rosenblatt Securities decreased their price target on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.38.

Insider Transactions at Ciena

In related news, SVP Dino Diperna sold 2,682 shares of Ciena stock in a transaction that occurred on 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. The trade was a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.18, for a total transaction of $443,224.00. Following the sale, the chief executive officer now directly owns 391,749 shares of the company’s stock, valued at $25,534,199.82. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,742 shares of company stock worth $5,469,173. Company insiders own 0.93% of the company’s stock.

About Ciena

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.