RBC Sells 25,000 CIEN Shares Amid Institutional Buying Spree

Royal Bank of Canada (RBC) has reduced its holdings in Ciena Corporation by 8.6% during the first quarter, according to a recent filing with the SEC.

The firm sold 24,788 shares of CIEN stock, leaving it with 263,542 shares worth approximately $102 million.

This move was part of a broader trend among institutional investors in Ciena, with several other large firms increasing their stakes during the quarter.

Analysts have been bullish on Ciena, with Stifel Nicolaus setting a price objective of $615.00 and Morgan Stanley raising its target from $405.00 to $490.00.