Ciena Corp (CIEN) Files Form 4 Insider Selling : Patrick Gallagher Sells 3,500 Shares

Ciena Corp (CIEN): Patrick Gallagher , director of Ciena Corp sold 3,500 shares on Jun 2, 2016. The Insider selling transaction was reported by the company on Jun 6, 2016 to the Securities and Exchange Commission. The shares were sold at $20.00 per share for a total value of $70,000.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 6, 2016, David M Rothenstein (Sr. VP, General Counsel) sold 4,000 shares at $19.94 per share price.On May 20, 2016, Gary B Smith (PRESIDENT, CEO) sold 4,000 shares at $16.13 per share price.Also, On May 20, 2016, James E Jr Moylan (SVP Finance, CFO) sold 2,000 shares at $16.32 per share price.On May 18, 2016, Stephen B Alexander (Sr VP Chief Technology Officer) sold 3,500 shares at $15.73 per share price.

Ciena Corporation: On Friday, Jun 3, 2016 heightened volatility was witnessed in Ciena Corporation which led to swings in the share price. The shares opened for trading at $19.98 and hit $21.18 on the upside , eventually ending the session at $21.03, with a gain of 4.99% or 1 points. The heightened volatility saw the trading volume jump to 84,87,173 shares. The 52-week high of the share price is $26.5 and the company has a market cap of $2,893 M . The 52-week low of the share price is at $15.615.

Ciena Corporation Money Flow Index Chart

Company has been under the radar of several Street Analysts.Ciena Corporation is Reiterated by MKM Partners to Buy and the brokerage firm has raised the Price Target to $ 26 from a previous price target of $21 .The Rating was issued on Jun 6, 2016.Ciena Corporation is Reiterated by Deutsche Bank to Hold and the brokerage firm has raised the Price Target to $ 17 from a previous price target of $15 .The Rating was issued on Jun 3, 2016.Ciena Corporation is Initiated by Drexel Hamilton to Buy. The Rating was issued on Apr 8, 2016.

Ciena Corporation (Ciena) is a provider of communications networking equipment software and services that support the transport switching aggregation and management of voice video and data traffic. The Company operates in four segments: converged packet optical packet networking optical transport and software and services. Its service provider customers include regional national and international wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications including Planet Orchestrate and Planet Operate as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications V-WAN Agility Matrix and network management solutions.

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