Robeco Institutional Asset Management B.V. Has $12.20 Million Holdings in Ciena Corporation $CIEN

Robeco Institutional Asset Management B.V. raised its holdings in Ciena Corporation (NYSE:CIEN – Free Report) by 3,411.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,173 shares of the communications equipment provider’s stock after buying an additional 50,687 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ciena were worth $12,202,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its stake in Ciena by 9.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 710 shares of the communications equipment provider’s stock valued at $166,000 after buying an additional 63 shares during the period. Assetmark Inc. lifted its stake in Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 67 shares during the period. Global Retirement Partners LLC lifted its stake in Ciena by 11.1% in the third quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 70 shares during the period. Coldstream Capital Management Inc. lifted its stake in Ciena by 1.7% in the third quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider’s stock valued at $695,000 after buying an additional 79 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Ciena by 1.3% in the third quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock valued at $943,000 after buying an additional 80 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Brodie Gage sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the completion of the sale, the senior vice president owned 46,341 shares in the company, valued at approximately $18,768,105. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jason Phipps sold 22,014 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total value of $9,021,337.20. Following the sale, the senior vice president owned 68 shares of the company’s stock, valued at $27,866.40. This trade represents a 99.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 66,150 shares of company stock worth $22,091,206. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CIEN has been the topic of several recent analyst reports. UBS Group boosted their price target on Ciena from $230.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Wolfe Research reaffirmed an “outperform” rating and set a $375.00 target price on shares of Ciena in a research report on Thursday, March 5th. Rosenblatt Securities upped their target price on Ciena from $305.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. B. Riley Financial upped their target price on Ciena from $222.00 to $283.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Finally, Needham & Company LLC upped their target price on Ciena from $280.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $327.12.

Check Out Our Latest Stock Report on CIEN

Ciena Price Performance

Shares of NYSE:CIEN opened at $467.19 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.81 and a debt-to-equity ratio of 0.55. Ciena Corporation has a twelve month low of $56.94 and a twelve month high of $513.49. The stock’s 50 day moving average is $364.24 and its 200-day moving average is $262.00. The firm has a market capitalization of $66.06 billion, a price-to-earnings ratio of 297.58, a PEG ratio of 1.78 and a beta of 1.01.

Ciena (NYSE:CIEN – Get Free Report) last issued its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Ciena’s revenue for the quarter was up 33.1% on a year-over-year basis. Sell-side analysts forecast that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Ciena Company Profile

(Free Report)

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.

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