Parallel Advisors LLC Sells 310 Shares of Ciena Co. (NYSE:CIEN)

Parallel Advisors LLC lessened its position in Ciena Co. (NYSE:CIEN) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,770 shares of the communications equipment provider’s stock after selling 310 shares during the period. Parallel Advisors LLC’s holdings in Ciena were worth $405,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 296 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Ciena during the 4th quarter worth approximately $41,000. Parkside Financial Bank & Trust increased its position in shares of Ciena by 409.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 418 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Ciena by 152.8% during the third quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 512 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Ciena during the fourth quarter worth $59,000. Institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on Ciena from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. B. Riley reiterated a “buy” rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Northland Capmk upgraded Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Needham & Company LLC decreased their price target on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities decreased their price target on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Four 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Insider Transactions at Ciena

In related news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.18, for a total transaction of $443,224.00. Following the completion of the sale, the chief executive officer now owns 391,749 shares of the company’s stock, valued at approximately $25,534,199.82. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Dino Diperna sold 2,682 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $87.64, for a total value of $235,050.48. Following the sale, the senior vice president now owns 50,607 shares of the company’s stock, valued at approximately $4,435,197.48. This represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,742 shares of company stock worth $5,469,173. 0.93% of the stock is owned by company insiders.

Ciena Trading Down 0.2 %

Ciena stock opened at $65.47 on Friday. 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 52 week low of $43.30 and a 52 week high of $101.44. The stock has a 50-day simple moving average of $80.57 and a 200 day simple moving average of $73.48. The stock has a market capitalization of $9.31 billion, a P/E ratio of 114.86, a PEG ratio of 1.54 and a beta of 0.91.

Ciena Profile

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.