Parkside Financial Bank & Trust Acquires 418 Shares of Ciena Co. (NYSE:CIEN)

Parkside Financial Bank & Trust increased its stake in Ciena Co. (NYSE:CIEN) by 409.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 520 shares of the communications equipment provider’s stock after purchasing an additional 418 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Ciena were worth $44,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Greenleaf Trust raised its stake 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 worth $422,000 after buying an additional 136 shares during the period. Coldstream Capital Management Inc. increased its holdings in Ciena by 3.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock worth $292,000 after acquiring an additional 175 shares in the last quarter. CIBC Asset Management Inc raised its stake in Ciena by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock worth $379,000 after acquiring an additional 226 shares during the period. QRG Capital Management Inc. lifted its holdings in Ciena by 4.9% during the fourth quarter. QRG Capital Management Inc. now owns 4,914 shares of the communications equipment provider’s stock valued at $417,000 after purchasing an additional 228 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Ciena by 2.4% in the third quarter. US Bancorp DE now owns 10,307 shares of the communications equipment provider’s stock worth $635,000 after purchasing an additional 244 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Ciena Trading Down 6.1 %

CIEN stock opened at $74.72 on Tuesday. The firm has a market cap of $10.65 billion, a PE ratio of 131.09, a price-to-earnings-growth ratio of 1.54 and a beta of 0.88. The firm has a fifty day moving average price of $85.59 and a 200 day moving average price of $72.65. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts anticipate that Ciena Co. will post 1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CIEN shares. Citigroup raised their price objective on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and raised their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Barclays upped their price objective on Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Stifel Nicolaus reissued a “buy” rating and set a $82.00 target price (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Finally, Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ciena presently has an average rating of “Moderate Buy” and an average price target of $78.77.

Insider Buying and Selling at Ciena

In related news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the sale, the senior vice president now owns 49,547 shares in the company, valued at approximately $4,256,582.77. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $84.86, for a total transaction of $577,048.00. Following the transaction, the chief executive officer now directly owns 412,149 shares of the company’s stock, valued at $34,974,964.14. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,642 shares of company stock worth $4,818,176 over the last ninety days. Company insiders own 0.93% of the company’s stock.

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.