Czech National Bank Acquires 1,886 Shares of Ciena Corporation $CIEN

Czech National Bank lifted its stake in Ciena Corporation (NYSE:CIEN) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,247 shares of the communications equipment provider’s stock after acquiring an additional 1,886 shares during the period. Czech National Bank’s holdings in Ciena were worth $19,744,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Elyxium Wealth LLC bought a new stake in Ciena in the 4th quarter valued at $2,747,810,000. Corient Private Wealth LLC increased its holdings in shares of Ciena by 30,114.5% during the 4th quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock worth $671,365,000 after purchasing an additional 2,861,176 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Ciena by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock worth $947,554,000 after purchasing an additional 1,404,132 shares during the period. Atreides Management LP acquired a new position in shares of Ciena during the second quarter valued at about $102,705,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock valued at $166,625,000 after buying an additional 1,093,557 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling

In other news, CFO Marc D. Graff sold 126 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $58,741.20. Following the transaction, the chief financial officer directly owned 126,955 shares of the company’s stock, valued at $59,186,421. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $379.81, for a total value of $1,121,199.12. Following the sale, the chief executive officer owned 248,982 shares in the company, valued at approximately $94,565,853.42. This trade represents a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,627 shares of company stock valued at $10,508,776 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Northland Securities set a $450.00 price objective on Ciena in a research report on Friday, June 5th. Argus set a $650.00 price objective on Ciena in a report on Friday, June 5th. Bank of America boosted their price objective on Ciena from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered Ciena from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $530.56.

Ciena Stock Up 2.2%

Shares of NYSE:CIEN opened at $412.82 on Friday. The company’s fifty day moving average is $439.69 and its 200-day moving average is $419.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73. Ciena Corporation has a 52 week low of $84.41 and a 52 week high of $637.51. The company has a market capitalization of $58.43 billion, a PE ratio of 137.61 and a beta of 1.30.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. Equities research analysts predict that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.