PSI Advisors LLC Sells 1,250 Shares of Ciena Corporation $CIEN

PSI Advisors LLC decreased its position in shares of Ciena Corporation (NYSE:CIEN) by 19.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,076 shares of the communications equipment provider’s stock after selling 1,250 shares during the period. PSI Advisors LLC’s holdings in Ciena were worth $1,187,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank bought a new position in shares of Ciena in the fourth quarter worth $35,000. Community Bank N.A. bought a new position in shares of Ciena in the third quarter worth $25,000. Assetmark Inc. increased its position in shares of Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. Wolff Wiese Magana LLC bought a new position in shares of Ciena in the fourth quarter worth $47,000. Finally, Ameritas Advisory Services LLC increased its position in shares of Ciena by 104.0% in the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 104 shares during the period. Institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CIEN. Barclays raised their price target on Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Needham & Company LLC raised their price target on Ciena from $280.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings upgraded Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Stifel Nicolaus raised their price target on Ciena from $430.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Wolfe Research restated an “outperform” rating and issued a $375.00 price target on shares of Ciena in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $404.94.

Ciena Stock Performance

Ciena stock opened at $580.90 on Thursday. Ciena Corporation has a 12-month low of $70.77 and a 12-month high of $605.61. The company has a quick ratio of 2.14, a current ratio of 2.81 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $492.80 and its two-hundred day moving average price is $337.45. The stock has a market cap of $82.14 billion, a PE ratio of 370.00, a P/E/G ratio of 1.97 and a beta of 1.24.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, analysts expect that Ciena Corporation will post 5.12 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 value of $2,025,000.00. Following the transaction, the senior vice president owned 46,341 shares in the company, valued at $18,768,105. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jason Phipps sold 22,014 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total value of $9,021,337.20. Following the sale, the senior vice president owned 68 shares in the company, valued at approximately $27,866.40. This trade represents a 99.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,174 shares of company stock worth $18,878,661 over the last 90 days. Insiders own 0.58% of the company’s stock.

Ciena Company 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.