Boston, MA 09/25/2014 (wallstreetpr) – Communications networking equipment provider, Ciena Corporation (NYSE:CIEN) President and Chief Executive Gary Smith, has resorted to selling shares in the open market. He was joined by Senior Vice President for Global Products Group, Francois Locoh-Donou, to unload part of his holding. Significantly, there has been no purchase of shares by the insiders in the current month, as well as, in the past three-month period.
Sell Shares
Ciena Corporation (NYSE:CIEN)’s President and CEO unloaded a total of 14,068 shares on September 22 through four transactions at different rates, according to Form 4 filed with the regulator on September 24. In the four transactions, he has sold 2,929 shares, 3,108 shares, 4,134 shares and 3,897 shares at the rate of $18.471, $18.4709, $18.4711 and $18.4709 respectively. He has realized an amount of $255,716 from the sale of shares.
The selling price indicated that the CEO was able to get 4.5% premium from the 52-week low price of $17.68. However, compared to the one-year high price of $27.93, the selling price indicated a discount of 33.9%. Following the latest sale of shares, Smith’s holding in the company has come down to 401,398 shares, which is valued approximately $7.13 million based on $17.78 a share.
On the same day, Ciena’s Locoh-Donou also unloaded 3,228 shares at an average rate of $18.47 a share, Form 4 filed with the SEC on September 24 indicated. These shares were also sold in four transactions. As a result, his holding in the company has reduced to 194,363 shares worth about $3.46 million.
One-Year Insider Trading
According to a data in Nasdaq, there were 20 transactions of insider trading activities and all the deals were in relation to selling of 53,016 shares in the last three-month period.
However, for the 52-week period, there were 18 transactions of open market purchases being reported to the SEC. There were 140 transactions totally, and 122 transactions were reported for selling. Though the number of transactions was more for selling, purchase of shares outnumbered selling of shares. While 808,447 shares were bought, 539,924 shares were unloaded, leaving a net buying of 268,523 shares in the last one-year period.
