Today: The Acacia Communications Inc. (ACIA) Major Shareholder Matrix Partners Viii L. P Sold 1,445,307 Shares

The Acacia Communications Inc. (ACIA) Major Shareholder Matrix Partners Viii L. P Sold 1,445,307 Shares

Acacia Communications Inc. (NASDAQ:ACIA) major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $96.50, for a total value of $139,472,125.50. Following the transaction, the insider now owns 10,646,247 shares in the company, valued at approximately $1,027,362,835.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Acacia Communications Inc. (NASDAQ:ACIA) traded down 2.03% during midday trading on Friday, hitting $92.01. The stock had a trading volume of 4,381,391 shares. Acacia Communications Inc. has a one year low of $27.05 and a one year high of $128.73. The firm has a 50 day moving average price of $107.56 and a 200 day moving average price of $72.59. The stock has a market cap of $3.29 billion and a PE ratio of 61.42.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.47. The business earned $116.20 million during the quarter, compared to analyst estimates of $57.90 million. The firm’s revenue was up 101.0% on a year-over-year basis. On average, equities analysts forecast that Acacia Communications Inc. will post $2.76 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS acquired a new position in shares of Acacia Communications during the second quarter valued at approximately $6,389,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Acacia Communications during the second quarter valued at approximately $12,294,000. Bank of New York Mellon Corp acquired a new position in shares of Acacia Communications during the second quarter valued at approximately $615,000. California State Teachers Retirement System acquired a new position in shares of Acacia Communications during the second quarter valued at approximately $439,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Acacia Communications during the second quarter valued at approximately $999,000. 48.58% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the company. Goldman Sachs Group Inc. restated a “neutral” rating on shares of Acacia Communications in a research note on Wednesday. Needham & Company LLC lifted their target price on Acacia Communications from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank AG reiterated a “buy” rating and issued a $125.00 target price on shares of Acacia Communications in a research note on Wednesday, September 28th. Zacks Investment Research upgraded Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research note on Tuesday, September 13th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $130.00 target price (up previously from $88.00) on shares of Acacia Communications in a research note on Sunday, September 4th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Acacia Communications has a consensus rating of “Buy” and an average target price of $99.00.

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