Corient Private Wealth LLC Acquires 233 Shares of Ciena Co. (NYSE:CIEN)

Corient Private Wealth LLC grew its holdings in shares of Ciena Co. (NYSE:CIEN) by 1.2% during the fourth quarter, Holdings Channel.com reports. 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 quarter.

Several other large investors also recently modified their holdings of CIEN. Greenleaf Trust boosted its stake in Ciena by 2.8% during the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock worth $422,000 after acquiring an additional 136 shares in the last quarter. US Bancorp DE boosted its position in shares of Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock worth $887,000 after purchasing an additional 152 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Ciena by 3.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock valued at $292,000 after buying an additional 175 shares during the period. CIBC Asset Management Inc increased its position in Ciena by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock valued at $379,000 after buying an additional 226 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in Ciena by 4.9% during the 4th quarter. QRG Capital Management Inc. now owns 4,914 shares of the communications equipment provider’s stock worth $417,000 after buying an additional 228 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the sale, the senior vice president now owns 49,197 shares in the company, valued at $4,435,601.52. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.18, for a total value of $443,224.00. Following the completion of the transaction, the chief executive officer now owns 391,749 shares in the company, valued at approximately $25,534,199.82. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,742 shares of company stock worth $5,469,173 in the last ninety days. Company insiders own 0.93% of the company’s stock.

Ciena Stock Performance

Shares of Ciena stock opened at $69.63 on Tuesday. The firm has a market capitalization of $9.90 billion, a P/E ratio of 122.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. 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 simple moving average is $80.32 and its 200 day simple moving average is $73.86. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44.

Analyst Ratings Changes

CIEN has been the subject of a number of research reports. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Friday, December 13th. Citigroup lifted their price target on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $75.00 in a report on Wednesday, March 12th. Barclays set a $100.00 price objective on shares of Ciena and gave the company an “overweight” rating in a report on Wednesday, March 12th. Finally, Rosenblatt Securities dropped their price target on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Four 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

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.