Acacia Communications, Inc. (NASDAQ:ACIA) VP Christian J. Rasmussen sold 8,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $43.84, for a total transaction of $350,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Christian J. Rasmussen also recently made the following trade(s):
- On Monday, January 29th, Christian J. Rasmussen sold 32,000 shares of Acacia Communications stock. The shares were sold at an average price of $35.05, for a total transaction of $1,121,600.00.
Shares of Acacia Communications, Inc. (NASDAQ ACIA) traded down $0.40 on Tuesday, hitting $44.44. The stock had a trading volume of 1,658,704 shares, compared to its average volume of 645,445. The firm has a market cap of $1,880.00 and a P/E ratio of 26.61. Acacia Communications, Inc. has a one year low of $33.68 and a one year high of $61.15.
Several institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in shares of Acacia Communications in the 4th quarter valued at about $321,000. Element Capital Management LLC acquired a new position in Acacia Communications in the fourth quarter worth approximately $3,571,000. Stone Ridge Asset Management LLC acquired a new position in Acacia Communications in the fourth quarter worth approximately $239,000. Guggenheim Capital LLC increased its holdings in Acacia Communications by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 26,818 shares of the technology company’s stock worth $973,000 after buying an additional 1,622 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Acacia Communications by 11.9% in the fourth quarter. Deutsche Bank AG now owns 145,797 shares of the technology company’s stock worth $5,281,000 after buying an additional 15,546 shares during the last quarter. Institutional investors own 89.22% of the company’s stock.
A number of analysts have commented on ACIA shares. DA Davidson lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $48.00 to $38.00 in a research note on Friday, February 23rd. UBS Group started coverage on shares of Acacia Communications in a research note on Wednesday, January 31st. They set a “buy” rating and a $50.00 price objective for the company. MKM Partners reaffirmed a “neutral” rating and set a $61.00 price objective (up from $53.00) on shares of Acacia Communications in a research note on Friday, February 23rd. William Blair reaffirmed a “buy” rating on shares of Acacia Communications in a research note on Tuesday, December 5th. Finally, Piper Jaffray Companies started coverage on shares of Acacia Communications in a research note on Tuesday, February 13th. They set an “overweight” rating and a $43.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Acacia Communications presently has an average rating of “Hold” and an average price target of $46.09.
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About Acacia Communications
Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.
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