New Age Alpha Advisors LLC Acquires New Position in Ciena Co. (NYSE:CIEN)

New Age Alpha Advisors LLC bought a new position in shares of Ciena Co. (NYSE:CIEN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 89,902 shares of the communications equipment provider’s stock, valued at approximately $7,625,000. New Age Alpha Advisors LLC owned about 0.06% of Ciena as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Greenleaf Trust lifted its stake in Ciena by 2.8% during the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock worth $422,000 after purchasing an additional 136 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Ciena by 1.5% in the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock valued at $887,000 after buying an additional 152 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Ciena by 3.8% in the third quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock worth $292,000 after acquiring an additional 175 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Ciena by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,897 shares of the communications equipment provider’s stock worth $2,705,000 after buying an additional 220 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Ciena by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock valued at $379,000 after acquiring an additional 226 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Buying and Selling

In other Ciena news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the sale, the senior vice president now directly owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Phipps sold 5,648 shares of Ciena stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.64, for a total transaction of $478,046.72. Following the completion of the transaction, the senior vice president now directly owns 109,878 shares in the company, valued at approximately $9,300,073.92. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,560 shares of company stock worth $5,406,323. Corporate insiders own 0.93% of the company’s stock.

Ciena Stock Performance

NYSE:CIEN opened at $62.75 on Friday. The company has a 50-day moving average of $79.21 and a 200-day moving average of $73.85. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 110.08, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a twelve month low of $43.30 and a twelve month high of $101.44.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CIEN. Morgan Stanley dropped their price objective on shares of Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Citigroup raised their price target on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Needham & Company LLC reduced their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Rosenblatt Securities lowered their target price on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

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.