Parkside Financial Bank & Trust Acquires 418 Shares of Ciena Co. (NYSE:CIEN)

Parkside Financial Bank & Trust raised its holdings in shares of Ciena Co. (NYSE:CIEN) by 409.8% in the 4th quarter, Holdings Channel reports. The firm owned 520 shares of the communications equipment provider’s stock after purchasing an additional 418 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Ciena were worth $44,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 296 shares during the period. First Horizon Advisors Inc. grew its stake in Ciena by 152.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 512 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Ciena during the fourth quarter valued at approximately $59,000. UMB Bank n.a. boosted its holdings 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 valued at $61,000 after purchasing an additional 267 shares during the period. Finally, Kestra Investment Management LLC bought a new position in Ciena in the fourth quarter worth approximately $97,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction 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 directly owns 49,197 shares in the company, valued at approximately $4,435,601.52. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 13,600 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total value of $1,137,776.00. Following the completion of the transaction, the chief executive officer now directly owns 425,749 shares in the company, valued at approximately $35,618,161.34. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,642 shares of company stock valued at $4,818,176. Insiders own 0.93% of the company’s stock.

Ciena Stock Performance

Shares of CIEN stock opened at $74.72 on Tuesday. 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 company has a market cap of $10.65 billion, a PE ratio of 131.09, a PEG ratio of 1.54 and a beta of 0.88. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The business’s fifty day simple moving average is $85.59 and its 200-day simple moving average is $72.65.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a net margin of 2.09% and a return on equity of 4.72%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.56 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that Ciena Co. will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

CIEN has been the subject of a number of research analyst reports. Northland Securities lifted their target price on Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, December 13th. Barclays lifted their price objective on Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 target price (up from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Citigroup boosted their price target on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities upped their price target on shares of Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

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.