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

Edmond DE Rothschild Holding S.A. purchased a new position in shares of Ciena Co. (NYSE:CIEN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,871 shares of the communications equipment provider’s stock, valued at approximately $752,000.

Several other hedge funds have also recently added to or reduced their stakes in CIEN. Vanguard Group Inc. raised its position in shares of Ciena by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock valued at $1,299,004,000 after buying an additional 139,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Ciena by 0.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider’s stock valued at $444,143,000 after acquiring an additional 17,447 shares in the last quarter. State Street Corp raised its holdings in Ciena by 1.2% in the 3rd quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock valued at $273,427,000 after acquiring an additional 53,078 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ciena by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after purchasing an additional 33,074 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ciena by 0.5% during the 4th 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 during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $89.00 price target (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $75.00 in a report on Wednesday, March 12th. Barclays set a $100.00 price objective on shares of Ciena and gave the company an “overweight” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $84.00 to $88.00 in a research note on Tuesday, January 28th. 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 report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

Insiders Place Their Bets

In other news, SVP David M. Rothenstein sold 2,500 shares of Ciena stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the completion of the transaction, the senior vice president now owns 207,370 shares in the company, valued at approximately $14,283,645.60. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.18, for a total transaction of $443,224.00. Following the sale, the chief executive officer now owns 391,749 shares in the company, valued at $25,534,199.82. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,560 shares of company stock worth $5,406,323 in the last ninety days. 0.93% of the stock is owned by corporate insiders.

Ciena Stock Up 1.8 %

Shares of CIEN opened at $61.53 on Wednesday. The company’s 50-day simple moving average is $77.71 and its 200-day simple moving average is $74.29. 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 1 year low of $43.30 and a 1 year high of $101.44. The stock has a market capitalization of $8.75 billion, a PE ratio of 107.96, a P/E/G ratio of 1.54 and a beta of 0.91.

Ciena Company 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.