Talos Eurisko Asset Management LP Has $10.90 Million Position in Ciena Corporation $CIEN

Talos Eurisko Asset Management LP cut its stake in shares of Ciena Corporation (NYSE:CIEN) by 32.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,608 shares of the communications equipment provider’s stock after selling 22,592 shares during the quarter. Ciena makes up approximately 1.9% of Talos Eurisko Asset Management LP’s portfolio, making the stock its 23rd biggest position. Talos Eurisko Asset Management LP’s holdings in Ciena were worth $10,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CIEN. Community Bank N.A. acquired a new position in Ciena during the 3rd quarter worth about $25,000. Transamerica Financial Advisors LLC lifted its holdings in Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 44 shares during the period. Assetmark Inc. lifted its holdings in Ciena by 50.4% during the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 67 shares during the period. Ameritas Advisory Services LLC lifted its holdings in Ciena by 104.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 104 shares during the period. Finally, Hilltop National Bank acquired a new position in Ciena during the 4th quarter worth about $35,000. 91.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CIEN has been the topic of several recent research reports. Rothschild & Co Redburn initiated coverage on Ciena in a report on Friday, May 1st. They set a “neutral” rating and a $416.00 target price on the stock. Northland Securities set a $450.00 price objective on Ciena in a research report on Friday, June 5th. Raymond James Financial lifted their price objective on Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Needham & Company LLC lifted their price objective on Ciena from $470.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Stifel Nicolaus set a $615.00 price objective on Ciena in a research report on Friday, May 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $530.56.

Ciena Stock Performance

Shares of Ciena stock opened at $462.19 on Tuesday. Ciena Corporation has a one year low of $72.56 and a one year high of $637.51. The firm has a market capitalization of $65.42 billion, a price-to-earnings ratio of 154.06 and a beta of 1.24. The business has a 50-day simple moving average of $521.76 and a 200 day simple moving average of $366.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11.

Ciena (NYSE:CIEN) last issued its 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. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue was up 39.5% compared to the same quarter last year. On average, research analysts anticipate that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Brodie Gage sold 5,000 shares of Ciena stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the completion of the transaction, the senior vice president owned 46,341 shares in the company, valued at approximately $18,768,105. The trade was a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Phipps sold 22,014 shares of Ciena stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the transaction, the senior vice president owned 68 shares of the company’s stock, valued at $27,866.40. This trade represents a 99.69% decrease in their position. 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. In the last quarter, insiders sold 41,222 shares of company stock worth $18,441,027. Insiders own 0.58% of the company’s stock.

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.