Envestnet Portfolio Solutions Inc. Has $993,000 Holdings in Ciena Co. (NYSE:CIEN)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Ciena Co. (NYSE:CIEN) by 16.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,708 shares of the communications equipment provider’s stock after acquiring an additional 1,651 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ciena were worth $993,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Natixis Advisors LLC grew its stake in Ciena by 22.5% in the fourth quarter. Natixis Advisors LLC now owns 185,916 shares of the communications equipment provider’s stock valued at $15,768,000 after purchasing an additional 34,169 shares in the last quarter. Poinciana Advisors Group LLC bought a new position in shares of Ciena in the fourth quarter valued at $274,000. Picton Mahoney Asset Management bought a new stake in Ciena during the fourth quarter worth $41,000. 12th Street Asset Management Company LLC lifted its stake in Ciena by 29.2% in the fourth quarter. 12th Street Asset Management Company LLC now owns 309,133 shares of the communications equipment provider’s stock valued at $26,218,000 after acquiring an additional 69,876 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in shares of Ciena in the 4th quarter valued at about $3,947,000. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Performance

Shares of NYSE:CIEN opened at $65.47 on Monday. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The company’s 50 day moving average price is $80.57 and its two-hundred day moving average price is $73.74. The firm has a market cap of $9.31 billion, a PE ratio of 114.86, a PEG ratio of 1.54 and a beta of 0.91. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Insider Activity at Ciena

In other news, Director Bruce L. Claflin sold 16,912 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the sale, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,742 shares of company stock worth $5,469,173. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several recent analyst reports. Morgan Stanley cut their target price on shares of Ciena from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. B. Riley reiterated a “buy” rating and set a $89.00 target price (down from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Citigroup increased their price target on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays set a $100.00 price objective on shares of Ciena and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Four 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.38.

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.