On June 3, 2024, Gary Smith, President and Chief Executive Officer of Ciena Corp (CIEN, Financial), executed a sale of 4,166 shares of the company. According to the SEC Filing, the transaction occurred at a stock price of $47.99 per share. Following this transaction, the insider now owns 372,611 shares of Ciena Corp.
Ciena Corp specializes in the provision of network hardware, software, and services. The company's solutions are used to help manage and optimize video, data, and voice traffic across optical, Ethernet, and IP networks worldwide.
Over the past year, Gary Smith has sold a total of 166,664 shares and has not purchased any shares of the company. This recent transaction is part of a broader trend observed within the company, where there have been 57 insider sells and no insider buys over the past year.
Shares of Ciena Corp were trading at $47.99 on the day of the transaction, giving the company a market cap of approximately $6.994 billion. The price-earnings ratio of the stock stands at 31.41, which is above both the industry median of 23.61 and the company's historical median.
According to the GF Value, which is an intrinsic value estimate from GuruFocus, Ciena Corp is considered modestly undervalued with a GF Value of $59.35. This assessment suggests a price-to-GF-Value ratio of 0.81.
The GF Value is calculated based on historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider may be of interest to current and potential investors, providing insight into insider confidence and stock valuation perspectives.
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.
