Insider Selling: Ciena Co. (NYSE:CIEN) CFO Sells $107,380.00 in Stock

Ciena Co. (NYSE:CIEN) CFO James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $53.69, for a total transaction of $107,380.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Monday, June 15th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $52.11, for a total value of $104,220.00.
  • On Monday, May 4th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $46.05, for a total value of $92,100.00.
  • On Monday, April 20th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $43.99, for a total value of $87,980.00.

Shares of NYSE:CIEN opened at $53.26 on Friday. The business has a 50-day moving average price of $53.25 and a 200 day moving average price of $45.08. The company has a current ratio of 3.28, a quick ratio of 2.83 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.29 and a beta of 0.89. Ciena Co. has a 12-month low of $30.58 and a 12-month high of $57.19.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.27. The firm had revenue of $894.00 million during the quarter, compared to the consensus estimate of $889.42 million. Ciena had a return on equity of 16.18% and a net margin of 8.78%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. As a group, equities research analysts predict that Ciena Co. will post 2.6 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Comerica Bank increased its position in shares of Ciena by 0.3% during the 1st quarter. Comerica Bank now owns 90,356 shares of the communications equipment provider’s stock worth $4,209,000 after purchasing an additional 301 shares during the last quarter. Tobam increased its position in shares of Ciena by 15.8% during the 1st quarter. Tobam now owns 2,508 shares of the communications equipment provider’s stock worth $100,000 after purchasing an additional 342 shares during the last quarter. Creative Planning increased its position in shares of Ciena by 6.4% during the 1st quarter. Creative Planning now owns 6,067 shares of the communications equipment provider’s stock worth $242,000 after purchasing an additional 363 shares during the last quarter. Chicago Equity Partners LLC increased its position in shares of Ciena by 3.8% during the 4th quarter. Chicago Equity Partners LLC now owns 12,310 shares of the communications equipment provider’s stock worth $526,000 after purchasing an additional 445 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its position in shares of Ciena by 1.2% during the 1st quarter. Harbour Capital Advisors LLC now owns 40,944 shares of the communications equipment provider’s stock worth $1,630,000 after purchasing an additional 469 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

CIEN has been the topic of a number of research reports. Nomura Instinet raised their price objective on Ciena from $46.00 to $63.00 and gave the company a “buy” rating in a report on Friday, June 5th. Rosenblatt Securities restated a “buy” rating and issued a $64.00 price objective on shares of Ciena in a report on Monday. Nomura Securities decreased their price objective on Ciena from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, March 30th. MKM Partners raised their price objective on Ciena from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Stifel Nicolaus raised their price objective on Ciena from $54.00 to $61.00 and gave the company a “buy” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.30.

About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

See Also: What is a Market Correction?

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.