CEO Sells And The Street Buys Acacia

Acacia Communications, Inc. ACIA shares are trading higher by $3.90 (8 percent) at $59.92 in Monday's session.

The Street in finding value in the issue at current levels even though its CEO Murugesan Shanmugarj disposed of 26,000 shares of the company's stock in a translocation on February 6. The average price of the sale was $57.12 for a total value of $1,485,120.

The sale price is much closer to its recent low for the current slide ($54.25) than to its all-time high made in August at $128.73.

The Street is shrugging of the sale as the issue is trading higher by almost $4.00 on heavy volume. With four hours remaining in the session 1.4 million shares have traded compared to its 20-day average of 1.25 million.