David Rothenstein, the Senior Vice President and Chief Strategy Officer of Ciena Corp (CIEN, Financial), executed a sale of 3,500 shares of the company on June 17, 2024. The transaction was detailed in a recent SEC Filing. Following this sale, the insider now owns 217,711 shares of the company.
Ciena Corp 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 scalable networks efficiently.
Over the past year, David Rothenstein has sold a total of 42,000 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, where there have been 59 insider sells and no insider buys over the past year.
On the date of the latest transaction, shares of Ciena Corp were trading at $46.05, giving the company a market cap of $6.83 billion. The price-earnings ratio of the company stands at 45.69, which is above the industry median of 23.9 and also higher than the company's historical median.
The stock's GF Value is estimated at $54.12, indicating that with a current price of $46.05, Ciena Corp is considered Modestly Undervalued with a price-to-GF-Value ratio of 0.85.
The GF Value is calculated considering 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 a key insider might be of interest to current and potential investors, as insider transactions can provide valuable insights into a company's operational and financial health.
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.
