Ciena Co. (NYSE:CIEN) Stock Position Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its holdings in Ciena Co. (NYSE:CIEN) by 51.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,267 shares of the communications equipment provider’s stock after purchasing an additional 431 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ciena were worth $107,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 418 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Ciena in the fourth quarter worth $59,000. UMB Bank n.a. grew its stake in shares of Ciena by 59.2% in the fourth quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider’s stock worth $61,000 after purchasing an additional 267 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Ciena in the fourth quarter worth $68,000. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Down 0.2 %

NYSE:CIEN opened at $65.47 on Friday. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 114.86, a PEG ratio of 1.54 and a beta of 0.91. Ciena Co. has a 1-year low of $43.30 and a 1-year 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 business’s fifty day moving average price is $80.57 and its 200 day moving average price is $73.48.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and upped their price objective for the company from $70.00 to $95.00 in a report on Friday, December 13th. Needham & Company LLC cut their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. B. Riley restated a “buy” rating and issued a $89.00 price objective (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Finally, Rosenblatt Securities cut their price objective on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

Insider Activity at Ciena

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.18, for a total value of $443,224.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce L. Claflin sold 16,912 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the completion of the transaction, the director now directly owns 59,347 shares in the company, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,742 shares of company stock valued at $5,469,173. Company insiders own 0.93% of the company’s stock.

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.