Acacia Communications (ACIA) CFO Sells $133,409.28 in Stock

Acacia Communications (NASDAQ:ACIA) CFO John F. Gavin sold 3,712 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $35.94, for a total transaction of $133,409.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

John F. Gavin also recently made the following trade(s):

  • On Monday, March 19th, John F. Gavin sold 1,737 shares of Acacia Communications stock. The shares were sold at an average price of $42.06, for a total transaction of $73,058.22.
  • On Tuesday, March 6th, John F. Gavin sold 16,000 shares of Acacia Communications stock. The shares were sold at an average price of $38.66, for a total transaction of $618,560.00.

Shares of Acacia Communications stock traded up $0.45 on Friday, hitting $33.00. The company had a trading volume of 760,906 shares, compared to its average volume of 1,340,074. The stock has a market capitalization of $1.31 billion, a PE ratio of 27.73 and a beta of 1.11. Acacia Communications has a twelve month low of $24.72 and a twelve month high of $50.10.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, May 3rd. The technology company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The company had revenue of $72.90 million during the quarter, compared to analysts’ expectations of $71.23 million. Acacia Communications had a negative net margin of 1.83% and a positive return on equity of 4.95%. The business’s quarterly revenue was down 36.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. equities research analysts forecast that Acacia Communications will post -0.37 EPS for the current fiscal year.

ACIA has been the subject of a number of analyst reports. Loop Capital initiated coverage on shares of Acacia Communications in a report on Monday, January 29th. They set a “buy” rating and a $50.00 price objective for the company. Northland Securities set a $42.00 price objective on shares of Acacia Communications and gave the company a “buy” rating in a report on Monday, January 29th. UBS initiated coverage on shares of Acacia Communications in a report on Wednesday, January 31st. They set a “buy” rating and a $50.00 price objective for the company. Piper Jaffray initiated coverage on shares of Acacia Communications in a report on Tuesday, February 13th. They set an “overweight” rating and a $43.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Acacia Communications in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $33.45.

Institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new position in shares of Acacia Communications in the first quarter valued at approximately $192,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Acacia Communications in the fourth quarter valued at approximately $201,000. Teacher Retirement System of Texas acquired a new position in shares of Acacia Communications in the fourth quarter valued at approximately $219,000. Stone Ridge Asset Management LLC acquired a new position in shares of Acacia Communications in the fourth quarter valued at approximately $239,000. Finally, Pitcairn Co. boosted its holdings in shares of Acacia Communications by 61.8% in the fourth quarter. Pitcairn Co. now owns 7,430 shares of the technology company’s stock valued at $269,000 after buying an additional 2,839 shares during the period. Institutional investors own 85.09% of the company’s stock.

About Acacia Communications

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

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