Xponance Inc. Has $908,000 Holdings in Ciena Co. (NYSE:CIEN)

Xponance Inc. trimmed its position in shares of Ciena Co. (NYSE:CIEN) by 19.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 18,845 shares of the communications equipment provider’s stock after selling 4,520 shares during the period. Xponance Inc.’s holdings in Ciena were worth $908,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of Ciena by 1,171.4% during the 2nd quarter. SG Americas Securities LLC now owns 44,854 shares of the communications equipment provider’s stock worth $2,161,000 after buying an additional 41,326 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Ciena in the 2nd quarter valued at approximately $661,000. Bank of New York Mellon Corp grew its holdings in shares of Ciena by 13.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,499,035 shares of the communications equipment provider’s stock valued at $72,223,000 after purchasing an additional 181,358 shares during the last quarter. Capital Fund Management S.A. increased its position in Ciena by 67.3% during the 4th quarter. Capital Fund Management S.A. now owns 225,172 shares of the communications equipment provider’s stock worth $10,135,000 after purchasing an additional 90,610 shares in the last quarter. Finally, Deepwater Asset Management LLC bought a new position in Ciena in the 1st quarter valued at approximately $1,587,000. 91.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Ciena

In other news, SVP Jason Phipps sold 2,712 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $48.29, for a total transaction of $130,962.48. Following the completion of the sale, the senior vice president now owns 96,000 shares of the company’s stock, valued at approximately $4,635,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Jason Phipps sold 2,712 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $48.29, for a total transaction of $130,962.48. Following the transaction, the senior vice president now owns 96,000 shares of the company’s stock, valued at approximately $4,635,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.81, for a total value of $170,835.00. Following the completion of the sale, the senior vice president now directly owns 212,421 shares of the company’s stock, valued at $10,368,269.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,712 shares of company stock valued at $498,637. 0.83% of the stock is currently owned by company insiders.

Ciena Price Performance

Shares of NYSE CIEN opened at $61.81 on Friday. The company has a market capitalization of $8.93 billion, a PE ratio of 59.43, a P/E/G ratio of 7.93 and a beta of 0.94. The company has a quick ratio of 2.99, a current ratio of 4.06 and a debt-to-equity ratio of 0.53. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $63.24. The firm has a fifty day simple moving average of $53.81 and a 200 day simple moving average of $50.02.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Wednesday, September 4th. The communications equipment provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.09. Ciena had a return on equity of 5.98% and a net margin of 3.44%. The firm had revenue of $942.30 million during the quarter, compared to analyst estimates of $928.31 million. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts forecast that Ciena Co. will post 1.15 EPS for the current year.

Wall Street Analyst Weigh In

CIEN has been the subject of several research analyst reports. Citigroup upgraded shares of Ciena from a “sell” rating to a “buy” rating and upped their price target for the stock from $44.00 to $68.00 in a report on Monday, September 23rd. B. Riley dropped their target price on Ciena from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Rosenblatt Securities boosted their price target on Ciena from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Stifel Nicolaus upped their price objective on Ciena from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America reiterated a “neutral” rating and set a $59.00 target price on shares of Ciena in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

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.