Ciena CEO Gary Smith sells $974,688 in stock
Ciena Corp (NASDAQ:CIEN) CEO Gary Smith sold 2,952 shares of the company's common stock on September 15, 2026, generating a total of $974,688. The shares were bought and sold within a specific price range, with the average sale price coming to $330.1789. The action was executed under a Rule 10b5-1 trading plan that Smith had established on October 4, 2025.
Presently, Ciena's stock price is $296.04, indicating a 49% decrease from the average sale price over the last six months. Following the sale, Smith remains a shareholder, owning 240,126 shares, which includes unvested RSUs and PSUs.
Analysts have differing opinions on Ciena's valuation. InvestingPro's Fair Value analysis suggests the company is overvalued. However, Stifel maintains a Buy rating with a price target of $615, while Morgan Stanley increases its price target to $450. UBS, on the other hand, lowers its price target to $394, retaining a Neutral rating. TD Cowen also keeps a Buy rating with a $400 price target, highlighting the company's growth potential amidst supply constraints.
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