Insider Sell: SVP and Chief Strategy Officer David Rothenstein Sells 3,500 Shares of Ciena Corp ...

Ciena Corp (NYSE:CIEN), a networking systems, services, and software company, has reported an insider sell according to a recent SEC filing. Senior Vice President and Chief Strategy Officer David Rothenstein sold 3,500 shares of the company on April 15, 2024. The transaction was executed at an average price of $45.74 per share, resulting in a total sale amount of $160,090.Over the past year, David Rothenstein has sold a total of 35,000 shares of Ciena Corp and has not made any purchases of the stock. This latest transaction continues a trend observed over the past year, where there have been no insider buys but a total of 52 insider sells for the company.

Insider Sell: SVP and Chief Strategy Officer David Rothenstein Sells 3,500 Shares of Ciena Corp (CIEN)

The market capitalization of Ciena Corp stands at $6.478 billion, with the stock trading at a price-earnings ratio of 29.09. This ratio is above the industry median of 23.14 and also exceeds the historical median price-earnings ratio for the company.Ciena Corp shares were valued at $45.74 on the day of the insider's recent sale. The company's stock is considered Modestly Undervalued with a price-to-GF-Value ratio of 0.76, based on a GuruFocus Value of $59.89.

Insider Sell: SVP and Chief Strategy Officer David Rothenstein Sells 3,500 Shares of Ciena Corp (CIEN)

The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.For investors monitoring insider activities, the recent sell by the insider may be of interest, although it is important to consider the broader context of the company's performance and market valuation when evaluating the significance of insider transactions.

• Warning! GuruFocus has detected 6 Warning Signs with CIEN.

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