Gf Fund Management 13F: Exits Ciena (CIEN) Stake
Key Points
- Gf Fund Management sold out of its 23,000 shares of Ciena, which had a reported value of about $7.4 million as of its latest filing.
- Ciena's stock recently traded around $336.09, up about 4.9% since closing at $320.26 on October 23, 2026.
- The company has a market cap of approximately $45.4 billion and is expected to report earnings on December 10, 2026.
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Gf Fund Management sold its entire stake of 23,000 shares in Ciena Corporation (NYSE: CIEN) in a filing on October 26, 2026.
CIEN
Ciena Corporation
Where Ciena Fits in Gf Fund Management's Portfolio
This sale marks a complete exit from Ciena for Gf Fund Management, which had previously held a 100% share decrease in this position. The reported value of Gf Fund Management's entire portfolio was approximately $4.25 billion at the time of the filing.
Other Institutional Activity in Ciena
American Century Companies Inc increased its holdings in Ciena by 1,315,939 shares, bringing its total to 1,851,788 shares worth about $622.1 million.
Ciena Corporation Stock Up 4.9%
Ciena shares recently traded around $336.09, which is above the recent closing price of $320.26 but still below its 50-day and 200-day moving averages. The stock is currently about 47.3% below its 52-week high of $637.51.
Recent Earnings
Ciena reported trailing twelve-month revenue of approximately $6.02 billion and an EPS of $4.47. The company has a net margin of 10.9% and a return on equity of 22.4%. Ciena is set to announce its next earnings on December 10, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 10.1%. Revenue beat estimates by 2.3%.
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Profit surprise
EBITDA missed by 27 percent. Operating income missed by 16 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
7 target raises.
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Earnings quality
Gross margin up 3.8 points. Operating margin up 12.1 points. Positive free cash flow.
Earnings Call Summary
Ciena delivered a strong quarter with $1.57 billion in revenue, up 40 percent year over year, and adjusted earnings of $1.64 per share. The company announced its first multirail Hyper-Rail system order from a leading hyperscaler and is seeing broad adoption across cloud and service provider customers. With a $7.7 billion backlog and expanding gross margins to 44.9 percent, management expects sustained growth through 2027 driven by AI infrastructure buildout.
Guidance Ciena raised its full year 2026 revenue guidance to $6.3 billion, up 32 percent year over year. For next quarter, they expect about $1.625 billion in revenue. The company plans to continue investing in supply chain capacity and R and D to support strong AI-driven demand from hyperscalers and service providers.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Ciena Corporation
Several insiders sold shares of Ciena on October 15, 2026. Dino DiPerna, the EVP & Chief R&D Officer, sold 890 shares at an average price of $347.04, totaling around $308,866. Brodie Gage, EVP & Chief Product & Tech, sold 1,200 shares for about $412,896, while CEO Gary Brian Smith sold 2,952 shares valued at approximately $1.03 million. David M. Rothenstein, an officer, sold 2,500 shares for about $870,157.
Analysts Set New Price Targets
On September 17, 2026, Barclays maintained an Overweight rating on Ciena with a target price of $548. Rosenblatt also maintained a Buy rating with a target of $525. Morgan Stanley kept its Equal-Weight rating with a $450 target. Evercore ISI upgraded its rating to Outperform with a target of $550 on September 21, 2026. Bernstein initiated coverage with an Outperform rating and a target of $440 on September 30, 2026.
About Ciena
Ciena Corporation is a network technology company based in Fulton, Maryland. It provides hardware, software, and services for network operators worldwide. Ciena operates through various segments, including Networking Platforms, Platform Software and Services, and Global Services. The company's focus on optical networking and routing products positions it well in the technology sector.
Bottom Line
Investors will be watching for Ciena's next earnings report on December 10, 2026, to gauge its financial health following this significant institutional activity. Gf Fund Management's complete exit from Ciena may signal a shift in its investment strategy or market outlook.
Related Filing Alerts
Source: Gf Fund Management's 13F filing on $CIEN (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts