Tradewinds LLC. Increases Stock Position in Ciena Co. (NYSE:CIEN)

Tradewinds LLC. lifted its position in Ciena Co. (NYSE:CIEN) by 24.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,954 shares of the communications equipment provider’s stock after purchasing an additional 1,379 shares during the quarter. Tradewinds LLC.’s holdings in Ciena were worth $610,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Summit Financial LLC bought a new position in Ciena during the fourth quarter valued at $577,000. Alliancebernstein L.P. raised its position in shares of Ciena by 1.4% during the 4th quarter. Alliancebernstein L.P. now owns 443,333 shares of the communications equipment provider’s stock valued at $37,599,000 after buying an additional 6,079 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Ciena in the fourth quarter worth about $752,000. O Shaughnessy Asset Management LLC grew its position in Ciena by 75.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,716 shares of the communications equipment provider’s stock worth $485,000 after acquiring an additional 2,453 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Ciena by 394.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider’s stock valued at $46,000 after purchasing an additional 442 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ciena news, SVP David M. Rothenstein sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the completion of the transaction, the senior vice president now directly owns 207,370 shares of the company’s stock, valued at approximately $14,283,645.60. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.18, for a total transaction of $443,224.00. Following the sale, the chief executive officer now directly owns 391,749 shares in the company, valued at $25,534,199.82. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,560 shares of company stock worth $5,406,323 in the last 90 days. Insiders own 0.93% of the company’s stock.

Ciena Trading Down 1.8 %

NYSE CIEN opened at $60.43 on Tuesday. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The company has a fifty day simple moving average of $78.25 and a two-hundred day simple moving average of $74.25. 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 stock has a market cap of $8.59 billion, a P/E ratio of 106.02, a P/E/G ratio of 1.54 and a beta of 0.91.

Analyst Upgrades and Downgrades

CIEN has been the topic of several recent analyst reports. Barclays set a $100.00 target price on shares of Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. B. Riley reissued a “buy” rating and issued a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Rosenblatt Securities cut their target price on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Needham & Company LLC decreased their price target on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Morgan Stanley cut their price objective on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.