Envestnet Asset Management Inc. increased its position in shares of Ciena Corporation (NYSE:CIEN) by 171.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,651 shares of the communications equipment provider’s stock after buying an additional 16,196 shares during the period. Envestnet Asset Management Inc.’s holdings in Ciena Corporation were worth $607,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mason Street Advisors LLC increased its stake in shares of Ciena Corporation by 2.6% in the first quarter. Mason Street Advisors LLC now owns 66,726 shares of the communications equipment provider’s stock worth $1,575,000 after buying an additional 1,693 shares during the last quarter. Marcus Capital LLC increased its stake in shares of Ciena Corporation by 5.4% in the first quarter. Marcus Capital LLC now owns 131,850 shares of the communications equipment provider’s stock worth $3,113,000 after buying an additional 6,700 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of Ciena Corporation by 0.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 60,600 shares of the communications equipment provider’s stock worth $1,431,000 after buying an additional 500 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Ciena Corporation by 1.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 24,341 shares of the communications equipment provider’s stock worth $575,000 after buying an additional 327 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of Ciena Corporation by 4.0% in the first quarter. Mutual of America Capital Management LLC now owns 112,532 shares of the communications equipment provider’s stock worth $2,657,000 after buying an additional 4,353 shares during the last quarter.

Institutional Ownership by Quarter for Ciena Corporation (NYSE:CIEN)

Shares of Ciena Corporation (NYSE:CIEN) opened at 25.43 on Friday. Ciena Corporation has a 1-year low of $17.59 and a 1-year high of $27.98. The firm’s 50-day moving average is $24.33 and its 200-day moving average is $23.98. The company has a market cap of $3.61 billion, a PE ratio of 33.59 and a beta of 1.71. Ciena Corporation also saw some unusual options trading on Wednesday. Investors purchased 362 put options on the company. This is an increase of 121% compared to the typical volume of 164 put options.

Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. The company had revenue of $707.02 million during the quarter, compared to the consensus estimate of $694.84 million. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. Ciena Corporation’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, equities analysts forecast that Ciena Corporation will post $1.77 earnings per share for the current fiscal year.

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A number of brokerages have recently issued reports on CIEN. ValuEngine downgraded shares of Ciena Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. Zacks Investment Research raised shares of Ciena Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, June 6th. Bank of America Corporation reaffirmed a “neutral” rating and set a $30.00 price target (up previously from $28.00) on shares of Ciena Corporation in a report on Monday, June 5th. B. Riley reaffirmed a “buy” rating and set a $34.00 price target on shares of Ciena Corporation in a report on Sunday, June 4th. Finally, MKM Partners reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Ciena Corporation in a report on Friday, June 2nd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.05.

In other news, SVP Jason Phipps sold 1,320 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $23.95, for a total transaction of $31,614.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stephen B. Alexander sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $21.66, for a total value of $54,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,841 shares of company stock valued at $1,593,138. Corporate insiders own 1.45% of the company’s stock.

Ciena Corporation Company Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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