Insider Sells Shares of Ciena Corp
David Rothenstein, SVP and Chief Strategy Officer of Ciena Corp (NYSE:CIEN), executed a sale of 3,500 shares in the company on February 15, 2024, according to a recent 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 31,500 shares and has not made any purchases of the company's stock. This latest transaction continues a pattern of insider sales at Ciena Corp, with a total of 49 insider sells and no insider buys occurring over the same period.
On the date of the insider's recent sale, shares of Ciena Corp were trading at $56.69, giving the company a market capitalization of $8.107 billion. The price-earnings ratio stood at 32.70, above both the industry median of 22.075 and the company's historical median price-earnings ratio.
The stock's price of $56.69 compared to the GuruFocus Value (GF Value) of $63.79 indicates a price-to-GF-Value ratio of 0.89, suggesting that Ciena Corp is modestly undervalued. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from 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.
