Trust Point Inc. Boosts Position in Ciena Co. (NYSE:CIEN)

Trust Point Inc. boosted its position in shares of Ciena Co. (NYSE:CIEN) by 28.8% during the fourth quarter, Holdings Channel reports. The firm owned 4,687 shares of the communications equipment provider’s stock after buying an additional 1,047 shares during the quarter. Trust Point Inc.’s holdings in Ciena were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. SkyOak Wealth LLC boosted its position in Ciena by 19.8% during the fourth quarter. SkyOak Wealth LLC now owns 9,087 shares of the communications equipment provider’s stock worth $771,000 after purchasing an additional 1,500 shares in the last quarter. Greenleaf Trust lifted its position in shares of Ciena by 2.8% in the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 136 shares in the last quarter. Institute for Wealth Management LLC. purchased a new stake in shares of Ciena in the fourth quarter valued at $246,000. Moody Aldrich Partners LLC purchased a new stake in shares of Ciena in the fourth quarter valued at $233,000. Finally, Pacer Advisors Inc. lifted its position in shares of Ciena by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 24,544 shares of the communications equipment provider’s stock valued at $2,082,000 after acquiring an additional 984 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Rosenblatt Securities upped their price objective on Ciena from $75.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays upped their price objective on Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Northland Securities upped their price objective on Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upgraded Ciena from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Ciena in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Insiders Place Their Bets

In other news, SVP Joseph Cumello sold 1,289 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $68.99, for a total value of $88,928.11. Following the completion of the sale, the senior vice president now owns 39,486 shares in the company, valued at approximately $2,724,139.14. This trade represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,581 shares of company stock worth $4,875,548 over the last three months. 0.83% of the stock is owned by insiders.

Ciena Stock Performance

Shares of NYSE:CIEN opened at $92.15 on Thursday. The firm has a market capitalization of $13.10 billion, a PE ratio of 161.67, a P/E/G ratio of 1.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The business has a 50-day moving average of $83.16 and a two-hundred day moving average of $68.01. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44.

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

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.