Insider Selling: Acacia Communications, Inc. (ACIA) CEO Sells 43,000 Shares of Stock

Acacia Communications, Inc. (NASDAQ:ACIA) CEO Murugesan Shanmugaraj sold 43,000 shares of Acacia Communications stock in a transaction on Friday, May 17th. The stock was sold at an average price of $50.12, for a total transaction of $2,155,160.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Murugesan Shanmugaraj also recently made the following trade(s):

  • On Tuesday, May 14th, Murugesan Shanmugaraj sold 9,796 shares of Acacia Communications stock. The stock was sold at an average price of $52.22, for a total transaction of $511,547.12.
  • On Tuesday, March 19th, Murugesan Shanmugaraj sold 4,544 shares of Acacia Communications stock. The stock was sold at an average price of $56.05, for a total transaction of $254,691.20.
  • On Monday, March 11th, Murugesan Shanmugaraj sold 12,900 shares of Acacia Communications stock. The stock was sold at an average price of $53.30, for a total transaction of $687,570.00.

ACIA stock traded down $0.55 during midday trading on Monday, reaching $48.47. The company had a trading volume of 1,055,595 shares, compared to its average volume of 790,366. The company has a market cap of $1.95 billion, a PE ratio of 323.13, a price-to-earnings-growth ratio of 2.88 and a beta of 1.71. Acacia Communications, Inc. has a 1-year low of $31.42 and a 1-year high of $62.18. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.26. The business had revenue of $105.20 million during the quarter, compared to the consensus estimate of $101.10 million. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. Acacia Communications’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. On average, analysts anticipate that Acacia Communications, Inc. will post 0.92 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Acacia Communications by 19.4% in the third quarter. Vanguard Group Inc. now owns 2,410,234 shares of the technology company’s stock valued at $99,711,000 after acquiring an additional 391,574 shares during the last quarter. BlackRock Inc. grew its position in Acacia Communications by 0.3% in the first quarter. BlackRock Inc. now owns 2,006,757 shares of the technology company’s stock valued at $115,087,000 after acquiring an additional 6,491 shares during the last quarter. Renaissance Technologies LLC grew its position in Acacia Communications by 190.4% in the first quarter. Renaissance Technologies LLC now owns 874,500 shares of the technology company’s stock valued at $50,153,000 after acquiring an additional 573,400 shares during the last quarter. Bank of New York Mellon Corp grew its position in Acacia Communications by 330.0% in the third quarter. Bank of New York Mellon Corp now owns 808,169 shares of the technology company’s stock valued at $33,434,000 after acquiring an additional 620,202 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Acacia Communications by 157.8% in the first quarter. Goldman Sachs Group Inc. now owns 678,528 shares of the technology company’s stock valued at $38,914,000 after acquiring an additional 415,367 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

ACIA has been the subject of a number of research analyst reports. Cowen lifted their price objective on shares of Acacia Communications from $45.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, February 22nd. ValuEngine downgraded Acacia Communications from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson lifted their target price on Acacia Communications to $46.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Craig Hallum began coverage on Acacia Communications in a report on Monday, March 4th. They set a “buy” rating for the company. Finally, Bank of America raised Acacia Communications from an “underperform” rating to a “neutral” rating and set a $56.60 target price for the company in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.36.

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Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

Read More: Net Income

Insider Buying and Selling by Quarter for Acacia Communications (NASDAQ:ACIA)

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