Ciena Co. (NYSE:CIEN) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC lessened its stake in Ciena Co. (NYSE:CIEN) by 24.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,434 shares of the communications equipment provider’s stock after selling 7,072 shares during the quarter. Proficio Capital Partners LLC’s holdings in Ciena were worth $1,818,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Ciena by 0.5% in the third quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider’s stock valued at $1,334,290,000 after acquiring an additional 108,407 shares during the last quarter. State Street Corp raised its position in Ciena by 1.2% in the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock valued at $273,427,000 after purchasing an additional 53,078 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ciena by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock valued at $148,348,000 after buying an additional 33,074 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Ciena by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock worth $81,403,000 after purchasing an additional 4,315 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ciena in the third quarter valued at $57,861,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dino Diperna sold 2,682 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $87.64, for a total transaction of $235,050.48. Following the completion of the sale, the senior vice president now directly owns 50,607 shares in the company, valued at approximately $4,435,197.48. This trade represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,742 shares of company stock valued at $5,469,173. 0.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CIEN has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Morgan Stanley cut their price target on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Barclays set a $100.00 price objective on Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Finally, Citigroup raised their price target on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.38.

Ciena Price Performance

Shares of NYSE:CIEN opened at $65.84 on Thursday. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $81.24 and a 200 day simple moving average of $73.48. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The company has a market cap of $9.36 billion, a PE ratio of 115.52, a P/E/G ratio of 1.54 and a beta of 0.91.

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.