Ciena Co. (NYSE:CIEN) SVP Stephen B. Alexander sold 1,978 shares of the company’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $25.55, for a total value of $50,537.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Stephen B. Alexander also recently made the following trade(s):
- On Friday, June 15th, Stephen B. Alexander sold 2,500 shares of Ciena stock. The shares were sold at an average price of $24.80, for a total value of $62,000.00.
- On Monday, April 16th, Stephen B. Alexander sold 2,500 shares of Ciena stock. The shares were sold at an average price of $25.51, for a total value of $63,775.00.
Shares of Ciena traded down $0.47, hitting $24.87, during trading hours on Friday, Marketbeat reports. The company’s stock had a trading volume of 4,654,596 shares, compared to its average volume of 3,492,864. Ciena Co. has a 12 month low of $19.40 and a 12 month high of $27.73. The company has a market capitalization of $3.62 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 1.77.
Several equities analysts have weighed in on CIEN shares. B. Riley increased their target price on Ciena from $31.00 to $31.50 and gave the company a “buy” rating in a research note on Friday, June 1st. BMO Capital Markets cut their target price on Ciena from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, June 1st. Zacks Investment Research raised Ciena from a “sell” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, March 13th. Northland Securities reissued a “buy” rating and issued a $34.00 target price on shares of Ciena in a research note on Monday, March 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $29.00 target price (up previously from $24.00) on shares of Ciena in a research note on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $29.43.
Several large investors have recently bought and sold shares of CIEN. Bristol John W & Co. Inc. NY bought a new position in shares of Ciena during the first quarter worth about $137,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ciena by 47.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 2,403 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ciena during the first quarter worth about $210,000. Stone Ridge Asset Management LLC bought a new position in shares of Ciena during the fourth quarter worth about $225,000. Finally, Corient Capital Partners LLC bought a new position in shares of Ciena during the fourth quarter worth about $230,000.
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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.
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