Ciena Co. (NYSE:CIEN) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division lowered its stake in shares of Ciena Co. (NYSE:CIEN) by 30.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,837 shares of the communications equipment provider’s stock after selling 2,535 shares during the period. Moody National Bank Trust Division’s holdings in Ciena were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CIEN. Price T Rowe Associates Inc. MD raised its stake in shares of Ciena by 1,944.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,062,394 shares of the communications equipment provider’s stock valued at $101,986,000 after buying an additional 1,961,513 shares during the last quarter. Norges Bank purchased a new stake in Ciena in the 4th quarter worth approximately $73,476,000. Swedbank AB purchased a new stake in Ciena in the 1st quarter worth approximately $48,214,000. Rokos Capital Management LLP boosted its position in Ciena by 118.7% in the 1st quarter. Rokos Capital Management LLP now owns 1,524,332 shares of the communications equipment provider’s stock worth $75,378,000 after purchasing an additional 827,352 shares in the last quarter. Finally, Capital World Investors boosted its position in Ciena by 29.1% in the 4th quarter. Capital World Investors now owns 3,513,633 shares of the communications equipment provider’s stock worth $158,149,000 after purchasing an additional 791,215 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analyst Ratings Changes

CIEN has been the topic of several recent research reports. Citigroup initiated coverage on Ciena in a research report on Friday, April 12th. They issued a “sell” rating and a $44.00 price objective on the stock. Morgan Stanley upgraded Ciena from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $53.00 to $55.00 in a research report on Wednesday, June 12th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Ciena in a research report on Monday, June 3rd. BNP Paribas initiated coverage on Ciena in a research report on Thursday, April 11th. They issued an “outperform” rating and a $57.00 price objective on the stock. Finally, Barclays reduced their target price on Ciena from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.25.

Ciena Price Performance

NYSE CIEN traded up $0.94 during mid-day trading on Tuesday, hitting $46.71. The stock had a trading volume of 1,451,384 shares, compared to its average volume of 1,764,828. The firm’s 50 day moving average is $48.35 and its 200 day moving average is $50.06. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $63.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.88 and a quick ratio of 2.76. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 5.35 and a beta of 0.94.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. Ciena had a return on equity of 7.16% and a net margin of 3.71%. The firm had revenue of $910.80 million during the quarter, compared to the consensus estimate of $895.80 million. During the same period in the prior year, the company earned $0.59 EPS. The firm’s revenue was down 19.6% compared to the same quarter last year. Equities research analysts forecast that Ciena Co. will post 1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Joseph Cumello sold 1,288 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $49.00, for a total value of $63,112.00. Following the completion of the sale, the senior vice president now directly owns 49,883 shares in the company, valued at approximately $2,444,267. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Gary B. Smith sold 4,166 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $49.16, for a total transaction of $204,800.56. Following the completion of the transaction, the chief executive officer now directly owns 376,777 shares in the company, valued at approximately $18,522,357.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Joseph Cumello sold 1,288 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $49.00, for a total value of $63,112.00. Following the transaction, the senior vice president now owns 49,883 shares of the company’s stock, valued at $2,444,267. The disclosure for this sale can be found here. Insiders sold a total of 15,832 shares of company stock worth $769,636 in the last three months. 0.83% of the stock is owned by corporate insiders.

About Ciena

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.