Murugesan Shanmugaraj Sells 6,706 Shares of Acacia Communications (ACIA) Stock

Acacia Communications (NASDAQ:ACIA) CEO Murugesan Shanmugaraj sold 6,706 shares of Acacia Communications stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $35.94, for a total value of $241,013.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, March 19th, Murugesan Shanmugaraj sold 2,799 shares of Acacia Communications stock. The stock was sold at an average price of $42.06, for a total value of $117,725.94.
  • On Thursday, March 15th, Murugesan Shanmugaraj sold 23,225 shares of Acacia Communications stock. The shares were sold at an average price of $43.60, for a total value of $1,012,610.00.

Shares of Acacia Communications opened at $32.55 on Friday, according to Marketbeat. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 57.47 and a beta of 1.11. Acacia Communications has a twelve month low of $31.93 and a twelve month high of $33.32.

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

A number of equities analysts recently issued reports on the company. Cowen restated an “outperform” rating and set a $32.00 price objective (down previously from $45.00) on shares of Acacia Communications in a report on Friday, May 4th. DA Davidson set a $30.00 price objective on Acacia Communications and gave the company a “hold” rating in a report on Friday, May 4th. Morgan Stanley restated an “equal weight” rating on shares of Acacia Communications in a report on Sunday, April 29th. ValuEngine cut Acacia Communications from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Northland Securities dropped their price objective on Acacia Communications from $50.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, April 17th. 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’s stock. The company currently has an average rating of “Hold” and an average price target of $33.45.

A number of hedge funds and other institutional investors have recently modified their holdings of ACIA. Wells Fargo & Company MN raised its position in Acacia Communications by 5.3% during the 3rd quarter. Wells Fargo & Company MN now owns 36,468 shares of the technology company’s stock valued at $1,717,000 after purchasing an additional 1,839 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Acacia Communications in the 3rd quarter worth $1,857,000. CWM LLC bought a new position in shares of Acacia Communications in the 4th quarter worth $3,599,000. Schwab Charles Investment Management Inc. raised its position in shares of Acacia Communications by 24.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 96,945 shares of the technology company’s stock worth $3,513,000 after acquiring an additional 19,175 shares in the last quarter. Finally, Tealwood Asset Management Inc. raised its position in shares of Acacia Communications by 29.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 42,485 shares of the technology company’s stock worth $1,539,000 after acquiring an additional 9,675 shares in the last quarter. 85.09% of the stock is owned by institutional investors and hedge funds.

Acacia Communications Company Profile

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

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