Edmond DE Rothschild Holding S.A. Invests $752,000 in Ciena Co. (NYSE:CIEN)

Edmond DE Rothschild Holding S.A. bought a new stake in Ciena Co. (NYSE:CIEN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,871 shares of the communications equipment provider’s stock, valued at approximately $752,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Versant Capital Management Inc raised its position in Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 296 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 279 shares during the period. Picton Mahoney Asset Management purchased a new position in Ciena during the fourth quarter worth about $41,000. Parkside Financial Bank & Trust lifted its position in Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 418 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Ciena by 394.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider’s stock valued at $46,000 after purchasing an additional 442 shares in the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Stock Performance

Shares of NYSE CIEN opened at $61.53 on Wednesday. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a 50-day simple moving average of $77.71 and a 200-day simple moving average of $74.29. The company has a market cap of $8.75 billion, a PE ratio of 107.96, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Citigroup lifted their price target 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. Needham & Company LLC lowered their target price on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Insider Buying and Selling at Ciena

In related news, Director Bruce L. Claflin sold 16,912 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $84.96, for a total value of $1,436,843.52. Following the completion of the sale, the director now directly owns 59,347 shares in the company, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 13,600 shares of Ciena stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total transaction of $1,137,776.00. Following the completion of the transaction, the chief executive officer now owns 425,749 shares in the company, valued at approximately $35,618,161.34. This trade represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,560 shares of company stock worth $5,406,323. Insiders own 0.93% of the company’s stock.

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.