David M. Rothenstein, Senior Vice President and Chief Strategy Officer of Ciena Corp (NASDAQ:CIEN), sold 2,500 shares of common stock on May 15, 2026. The transactions totaled approximately $1,405,968.
The shares were sold at a weighted average price of $562.39, with individual prices ranging from $555.02 to $572.68. The sale was conducted under a Rule 10b5-1 trading plan established on October 10, 2025.
Ciena shares have surged 569% over the past year but declined 6.1% in the past week. The company trades at a P/E ratio of 344 with a market cap of $76.24 billion.
Following the sale, Rothenstein directly holds 190,081 shares, including unvested RSUs and PSUs.
Recent analyst updates: BofA Securities raised its target to $550, TD Cowen to $675 (Buy), Stifel to $585. Rothschild Redburn initiated with Neutral and a $416 target.
