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O Shaughnessy Asset Management LLC increased its holdings in shares of Ciena Co. (NYSE:CIEN – Free Report) by 75.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,716 shares of the communications equipment provider’s stock after purchasing an additional 2,453 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Ciena were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CIEN. Captrust Financial Advisors lifted its holdings in shares of Ciena by 28.7% in the 3rd quarter. Captrust Financial Advisors now owns 7,951 shares of the communications equipment provider’s stock valued at $490,000 after buying an additional 1,775 shares during the period. HighTower Advisors LLC grew its stake in shares of Ciena by 6.3% during the 3rd quarter. HighTower Advisors LLC now owns 45,426 shares of the communications equipment provider’s stock worth $2,777,000 after purchasing an additional 2,693 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Ciena by 11.9% in the 3rd quarter. Quantinno Capital Management LP now owns 20,107 shares of the communications equipment provider’s stock valued at $1,238,000 after purchasing an additional 2,137 shares during the period. Stifel Financial Corp boosted its holdings in Ciena by 3.1% during the third quarter. Stifel Financial Corp now owns 105,774 shares of the communications equipment provider’s stock worth $6,515,000 after buying an additional 3,153 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Ciena during the third quarter valued at $627,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the transaction, the senior vice president now owns 49,197 shares in the company, valued at $4,435,601.52. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $68.88, for a total transaction of $172,200.00. Following the completion of the sale, the senior vice president now directly owns 207,370 shares of the company’s stock, valued at $14,283,645.60. This represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,288 shares of company stock valued at $3,484,670 in the last ninety days. 0.93% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Rosenblatt Securities lowered their price target on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. upgraded Ciena from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and increased their target price for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. Finally, Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.38.
Check Out Our Latest Research Report on CIEN
Ciena Stock Performance
NYSE:CIEN opened at $58.38 on Friday. The company has a market cap of $8.30 billion, a P/E ratio of 102.42, a P/E/G ratio of 1.54 and a beta of 1.15. Ciena Co. has a twelve month low of $43.30 and a twelve month high of $101.44. The company’s 50-day moving average price is $72.42 and its 200-day moving average price is $74.04. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.
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.
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