In a recent transaction filing with the Securities and Exchange Commission, Gage Brodie, senior vice president of Global Products & Supply at The price Corp (NYSE: ), sold 350 shares of the company’s common stock. The shares were sold on December 26, 2024, at a price of $87.64 each, for a total transaction value of $30,674.
Following this sale, Brodie retains ownership of 49,897 shares. The transaction was made as part of a predetermined Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a specified time. The remaining shares include unvested restricted stock units (RSUs) and performance stock units (PSUs). According to InvestingPro analysis, Ciena currently trades at premium valuations, with 15+ additional insights available to subscribers, including detailed financial health metrics and growth projections.
In other recent news, Ciena Corporation was at the center of several analyst adjustments following its strong fourth quarter earnings. Jefferies maintained a Buy rating on Ciena, highlighting the company’s potential for growth driven by AI traffic and the completion of excess inventory reductions among its Tier 1 customers. JPMorgan maintained its Neutral rating but raised its price target on the stock to $84, reflecting a positive view of Ciena’s growth prospects driven by significant investment from cloud clients and telecom operators.
Stifel maintained a buy rating on Ciena and raised its price target on the stock to $95, noting that Ciena’s fiscal fourth-quarter revenue beat expectations, driven by continued momentum with communications service providers. Needham also maintained a Buy rating on the company and raised his price target to $95, following Ciena’s fiscal fourth quarter 2024 results that showed revenue topping consensus forecasts.
BofA Securities upgraded Ciena’s stock to Buy from Neutral and raised its price target to $95, citing an improved business outlook and increased order momentum. These recent developments reflect analysts’ positive outlook on Ciena’s performance and growth potential, as well as the company’s strong market position and strong financial health.
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