Insider Sell: Ciena Corp President and CEO Gary Smith Sells 4,166 Shares
Gary Smith, President and CEO of Ciena Corp (NYSE:CIEN), executed a sale of 4,166 shares in the company on January 16, 2024, according to a recent SEC Filing. Over the past year, the insider has sold a total of 71,871 shares and has not made any purchases of the company's stock.
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.
The insider transaction history for Ciena Corp shows a pattern of selling activity, with 49 insider sells and no insider buys over the past year.
On the valuation front, Ciena Corp's shares were trading at $50.56 on the day of the insider's recent transaction, giving the company a market cap of $7.341 billion. The price-earnings ratio stands at 29.64, above both the industry median of 22.84 and the company's historical median.
The stock's price-to-GF-Value ratio is 0.79, with a GF Value of $63.64, indicating that Ciena Corp is considered Modestly Undervalued according to GuruFocus's valuation model.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor related to the company's past performance, 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.
