Intrust Bank NA Has $236,000 Stock Holdings in Ciena Co. (NYSE:CIEN)

Intrust Bank NA reduced its holdings in shares of Ciena Co. (NYSE:CIEN) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,777 shares of the communications equipment provider’s stock after selling 816 shares during the quarter. Intrust Bank NA’s holdings in Ciena were worth $236,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CIEN. Pictet Asset Management Holding SA boosted its position in Ciena by 10.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 21,862 shares of the communications equipment provider’s stock valued at $1,854,000 after buying an additional 2,026 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Ciena in the 4th quarter valued at $7,625,000. Norges Bank acquired a new stake in shares of Ciena during the 4th quarter valued at $7,356,000. WINTON GROUP Ltd boosted its holdings in shares of Ciena by 242.4% during the 4th quarter. WINTON GROUP Ltd now owns 104,167 shares of the communications equipment provider’s stock valued at $8,834,000 after acquiring an additional 73,741 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ciena by 328.2% during the 4th 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 last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CIEN has been the topic of a number of recent research reports. Needham & Company LLC cut their price target on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Barclays set a $100.00 target price on shares of Ciena and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. 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 report on Friday, March 7th. B. Riley reiterated a “buy” rating and set a $89.00 price target (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Finally, Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Ciena Stock Down 2.2 %

Shares of Ciena stock opened at $61.50 on Monday. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The stock’s 50-day moving average is $78.74 and its 200 day moving average is $74.21. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 107.90, a PEG ratio of 1.54 and a beta of 0.91.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now directly owns 49,547 shares in the company, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jason Phipps sold 5,648 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.64, for a total value of $478,046.72. Following 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. Insiders sold a total of 66,560 shares of company stock valued at $5,406,323 in the last quarter. 0.93% of the stock is currently owned by company insiders.

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.