On May 15, 2024, David Rothenstein, Senior Vice President and Chief Strategy Officer of Ciena Corp (CIEN, Financial), sold 3,500 shares of the company. The transaction was reported in a recent SEC Filing. This sale is part of a series of transactions by the insider over the past year, totaling 38,500 shares sold.
Ciena Corp (CIEN, Financial) specializes in the design, manufacture, and sale of network hardware, software, and services. The company provides solutions that enable a wide range of network operators to deploy and manage advanced networks that deliver services to businesses and consumers.
The shares were sold at a price of $49, valuing the transaction at $171,500. Following this transaction, the insider's direct ownership in the company stands adjusted. The sale occurred at a time when the stock is considered Modestly Undervalued according to the GF Value, with a price-to-GF-Value ratio of 0.82.
Over the past year, there have been no insider buys and 56 insider sells at Ciena Corp (CIEN, Financial). This pattern of transactions suggests a trend among insiders, potentially reflecting their perspectives on the stock's valuation and future prospects.
The current market cap of Ciena Corp is approximately $7.07 billion. The stock's price-earnings ratio is 31.76, which is above both the industry median of 23.69 and the company's historical median, indicating a higher valuation relative to earnings compared to peers and its own past.
The GF Value of $59.61 for Ciena Corp is derived from historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts. This intrinsic value estimate suggests that the stock might be undervalued at its current trading price.
Investors and stakeholders in Ciena Corp (CIEN, Financial) may find these insider transactions and valuation metrics useful for making informed decisions regarding their investment or monitoring of the company.
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.
