Rothschild Investment LLC Sells 11,369 Shares of Ciena Co. (NYSE:CIEN)

Rothschild Investment LLC trimmed its holdings in Ciena Co. (NYSE:CIEN) by 34.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,264 shares of the communications equipment provider’s stock after selling 11,369 shares during the quarter. Rothschild Investment LLC’s holdings in Ciena were worth $1,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Ciena by 65.0% during the third quarter. Creative Planning now owns 14,516 shares of the communications equipment provider’s stock worth $894,000 after purchasing an additional 5,717 shares in the last quarter. Blue Trust Inc. raised its position in Ciena by 241.5% in the 3rd quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 1,007 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Ciena by 399.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,378 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 1,902 shares in the last quarter. Private Advisor Group LLC boosted its position in Ciena by 5.4% in the 3rd quarter. Private Advisor Group LLC now owns 6,169 shares of the communications equipment provider’s stock valued at $380,000 after buying an additional 318 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its holdings in Ciena by 8.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 11,999 shares of the communications equipment provider’s stock valued at $739,000 after acquiring an additional 950 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Ciena Price Performance

NYSE CIEN opened at $80.38 on Tuesday. The business has a 50 day simple moving average of $86.42 and a 200 day simple moving average of $71.67. 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 market cap of $11.46 billion, a price-to-earnings ratio of 141.01, a PEG ratio of 1.54 and a beta of 0.88.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. Ciena had a return on equity of 4.72% and a net margin of 2.09%. Ciena’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. Analysts anticipate that Ciena Co. will post 1.6 earnings per share for the current fiscal year.

Insider Transactions at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the transaction, the senior vice president now owns 49,547 shares of the company’s stock, valued at $4,256,582.77. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary B. Smith sold 6,800 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $84.86, for a total transaction of $577,048.00. Following the transaction, the chief executive officer now owns 412,149 shares in the company, valued at approximately $34,974,964.14. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,642 shares of company stock valued at $4,818,176 over the last 90 days. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CIEN. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Rosenblatt Securities lifted their price objective on Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Barclays increased their target price on Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley lowered Ciena from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research report on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Ciena in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average price target of $78.77.

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.