Ciena (CIEN) SVP David Rothenstein Sells $1M of Stock
Ciena's Chief Strategy Officer sold over $1 million in stock amid recent insider transactions.
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David Rothenstein, SVP and Chief Strategy Officer at Ciena Corporation ($CIEN), sold 2,350 shares at an average price of $428.22, worth about $1.01 million, on June 20, 2026. The trade was reported to the SEC in a Form 4 filing.
Since the trade, $CIEN is up 11.8% after 1 week, down 11.6% after 1 month and down 22.3% to date (from the $428.22 close on Jun 18, 2026).
CIEN
Ciena Corporation
Key Points
- David Rothenstein sold 2,350 shares of Ciena Corporation for about $1,006,317 on June 20, 2026, at a price of $428.22 each.
- Ciena's stock was trading at $469.23 on June 20, which is significantly above its 52-week low of $159.56.
- Analysts have a consensus rating of 'buy' for Ciena, with a mean price target of $512.99.
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Insider Buying and Selling at Ciena Corporation
David Rothenstein, Ciena Corporation's Senior Vice President and Chief Strategy Officer, sold 2,350 shares on June 20, 2026, for about $1,006,317. The shares were sold at a price of $428.22 each. This sale is part of a series of insider transactions at Ciena, reflecting ongoing activity among company executives.
Other Executives Follow Suit
On the same day, several other insiders at Ciena also sold shares. Gary Smith, the CEO, sold 8,767 shares valued at approximately $3.75 million. Dino Diperna, the Senior Vice President of Global R&D, sold 2,054 shares for about $879,564. Marc Graff, the CFO, sold 199 shares and an additional 126 shares in separate transactions, totaling around $85,216 and $56,619, respectively. These multiple transactions illustrate a trend of selling among Ciena's leadership.
Stock Performance Context
Ciena's stock was trading at $469.23 on June 20, 2026. This price is significantly above its 52-week low of $159.56. The stock has recently shown strength, trading well above its 200-day moving average of $399.44. Investors are likely to watch how these insider sales impact market sentiment, especially as the company approaches its next earnings report on December 10, 2026.
Analysts Set New Price Targets
On September 30, 2026, Bernstein initiated coverage of Ciena with an 'Outperform' rating and a price target of $440. Earlier, on September 21, Evercore ISI Group upgraded Ciena to 'Outperform' with a target of $550, up from $375. Other firms like Barclays and Rosenblatt maintained their ratings of 'Overweight' and 'Buy' respectively, with targets of $548 and $525. The consensus from analysts is a 'buy' rating with a mean price target of $512.99.
What Ciena Corporation Does
Ciena Corporation is a network technology company that provides hardware, software, and services to network operators worldwide. It specializes in communication equipment and operates in various segments, including networking platforms and software services. The recent insider sales come as the company continues to navigate a competitive technology landscape.
What's Ahead for Ciena Corporation
Investors will be looking closely at Ciena's next earnings report scheduled for December 10, 2026. This will be an opportunity to assess the company's performance and any potential impacts from the recent insider transactions. As a reminder, the recent insider sales reflect past decisions and may not represent current positions.
Related Filing Alerts
Source: David Rothenstein's Form 4 filing on $CIEN (Jun 20, 2026). Find the original filing: CIEN Form 4 filings on SEC EDGAR. Written by software, not financial advice. How we make alerts