Insider Selling: Acacia Communications, Inc. (ACIA) VP Sells 80,000 Shares of Stock

Acacia Communications, Inc. (NASDAQ:ACIA) VP Christian J. Rasmussen sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $53.27, for a total transaction of $4,261,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of ACIA stock traded down $1.27 during mid-day trading on Friday, reaching $52.00. The company’s stock had a trading volume of 1,391,178 shares, compared to its average volume of 704,145. Acacia Communications, Inc. has a 1-year low of $24.72 and a 1-year high of $57.53. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 346.67, a P/E/G ratio of 5.81 and a beta of 1.65.

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Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, February 21st. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Acacia Communications had a net margin of 1.45% and a return on equity of 3.01%. The company had revenue of $107.10 million during the quarter, compared to analysts’ expectations of $102.84 million. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. On average, research analysts forecast that Acacia Communications, Inc. will post 0.85 EPS for the current year.

A number of research firms have recently issued reports on ACIA. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, February 28th. MKM Partners boosted their price objective on shares of Acacia Communications to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. B. Riley downgraded shares of Acacia Communications from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $50.50 in a research report on Friday, February 22nd. Craig Hallum initiated coverage on shares of Acacia Communications in a report on Monday. They set a “buy” rating for the company. Finally, Cowen upped their price objective on shares of Acacia Communications from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Acacia Communications currently has an average rating of “Hold” and an average target price of $51.25.

Several institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Acacia Communications by 6.1% during the 4th quarter. Legal & General Group Plc now owns 10,014 shares of the technology company’s stock worth $380,000 after purchasing an additional 576 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Acacia Communications by 6.9% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 10,641 shares of the technology company’s stock worth $404,000 after purchasing an additional 687 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Acacia Communications by 31.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,240 shares of the technology company’s stock worth $258,000 after purchasing an additional 1,500 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Acacia Communications by 100.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,811 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Acacia Communications by 3.7% during the 3rd quarter. Teachers Advisors LLC now owns 54,238 shares of the technology company’s stock worth $2,244,000 after purchasing an additional 1,919 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

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About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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