Ciena Corp CEO Gary Smith Sells 4,166 Shares
On January 2, 2024, Gary Smith, President and CEO of Ciena Corp (NYSE:CIEN), executed a sale of 4,166 shares of the company. The transaction was filed with the SEC and can be found through this SEC Filing.
Ciena Corp is a networking systems, services, and software company, providing solutions that enable a wide range of network operators to deploy and manage complex networks. These solutions are designed to support the increasing demand for network bandwidth and performance, driven by the growth of data and video traffic.
Over the past year, the insider has sold a total of 71,246 shares and has not made any purchases. The insider transaction history for Ciena Corp indicates a pattern of 47 insider sells and no insider buys over the past year.
On the day of the sale, shares of Ciena Corp were trading at $45.04, giving the company a market capitalization of $6.660 billion. The price-earnings ratio stood at 26.66, above both the industry median of 23.17 and the company's historical median price-earnings ratio.
According to the GF Value, with a share price of $45.04 and a GuruFocus Value of $63.57, Ciena Corp's price-to-GF-Value ratio is 0.71, suggesting that the stock is modestly undervalued.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
