Sheela Kosaraju, Senior Vice President and General Counsel at The price Corp (NYSE: ), recently sold part of its stake in the company. According to a filing with the Securities and Exchange Commission, Kosaraju sold 1,509 shares of common stock at a price of $85.91 per share on January 15, 2025. This transaction resulted in a total sales value of approximately $129,638. The sale comes as Ciena’s stock has shown incredible strength, rising 66% over the past six months. According to InvestingPro analysis, the stock is currently trading above its fair value.
Following this transaction, Kosaraju retains ownership of 95,745 shares, which includes restricted stock units (RSUs) and performance stock units (PSUs). The sale was carried out according to a predetermined trading plan, as stated in the submission. InvestingPro data reveals that Ciena maintains strong financial health with a current ratio of 3.54, indicating strong liquidity. For an in-depth look at Ciena’s assessment and 13 additional ProTips, subscribers can access the extensive Pro Research Report.
In other recent news, Ciena Corporation is gaining attention due to a series of positive analyst ratings and upgrades. Jefferies maintained a Buy rating, highlighting Ciena’s potential for growth driven by AI traffic and expecting gains from the completion of excess inventory reductions among its Tier 1 customers. JPMorgan, while maintaining a Neutral rating, raised its price target on the stock, reflecting optimism about Ciena’s growth prospects fueled by significant investment from cloud clients and telecom operators.
Stifel maintained a Buy rating on Ciena, raising its price target on the stock based on strong fiscal fourth-quarter revenue, fueled by continued momentum with communications providers. Needham also maintained a Buy rating on the company, raising his price target following Ciena’s fiscal fourth-quarter 2024 results that showed revenue beat consensus forecasts.
BofA Securities upgraded Ciena’s stock to Buy from Neutral, citing an improved business outlook and increased order momentum. These recent developments reflect analysts’ positive views on Ciena’s performance, growth potential and solid financial health.
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