Commonwealth Equity Services Inc purchased a new stake in Akoustis Technologies Inc (NASDAQ:AKTS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,025 shares of the technology company’s stock, valued at approximately $150,000. Commonwealth Equity Services Inc owned 0.12% of Akoustis Technologies at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in Akoustis Technologies in the second quarter valued at approximately $3,233,000. EAM Investors LLC grew its stake in Akoustis Technologies by 19.0% in the second quarter. EAM Investors LLC now owns 47,609 shares of the technology company’s stock valued at $416,000 after acquiring an additional 7,590 shares during the period. TIAA CREF Investment Management LLC acquired a new stake in Akoustis Technologies in the second quarter valued at approximately $208,000. Bank of New York Mellon Corp acquired a new stake in Akoustis Technologies in the second quarter valued at approximately $211,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Akoustis Technologies in the second quarter valued at approximately $185,000. 10.83% of the stock is owned by institutional investors.
In other news, major shareholder Mark N. Tompkins sold 25,291 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $7.50, for a total value of $189,682.50. Following the transaction, the insider now owns 2,290,000 shares in the company, valued at $17,175,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mark N. Tompkins sold 48,230 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $6.83, for a total value of $329,410.90. Following the completion of the transaction, the insider now owns 2,349,906 shares in the company, valued at approximately $16,049,857.98. The disclosure for this sale can be found here. Insiders sold 123,952 shares of company stock worth $869,208 in the last 90 days. Corporate insiders own 26.60% of the company’s stock.
Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings data on Tuesday, November 14th. The technology company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.11). Akoustis Technologies had a negative net margin of 1,462.20% and a negative return on equity of 115.56%. The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.70 million. research analysts forecast that Akoustis Technologies Inc will post -0.34 EPS for the current fiscal year.
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Akoustis Technologies Company Profile
Akoustis Technologies, Inc, formerly Danlax, Corp., is a fabless company engaged in developing, designing and manufacturing radio frequency (RF) filter products for the mobile wireless device industry. The Company operates in the telecommunications and fiber optics sector. The Company is focused on commercializing and manufacturing its Bulk ONE acoustic wave technology to address the critical frequency-selectivity requirements in mobile smartphones.
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