Gilder Gagnon Howe & Co. LLC Has $23.85 Million Stake in Calix, Inc. (NYSE:CALX)

Gilder Gagnon Howe & Co. LLC reduced its position in shares of Calix, Inc. (NYSE:CALX) by 28.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 683,878 shares of the communications equipment provider’s stock after selling 271,790 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Calix were worth $23,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Calix by 367.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 640 shares in the last quarter. Pacer Advisors Inc. raised its stake in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 358 shares in the last quarter. Quantbot Technologies LP bought a new stake in Calix in the 4th quarter valued at about $84,000. KBC Group NV grew its position in shares of Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Calix by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock worth $217,000 after purchasing an additional 465 shares during the period. 98.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group reiterated a “buy” rating on shares of Calix in a research report on Tuesday. Rosenblatt Securities boosted their price target on Calix from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $53.00 price objective on shares of Calix in a research note on Tuesday. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Calix has an average rating of “Moderate Buy” and a consensus price target of $47.83.

Calix Stock Up 1.6 %

NYSE CALX opened at $39.66 on Friday. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -88.13 and a beta of 1.75. Calix, Inc. has a twelve month low of $27.60 and a twelve month high of $42.50. The business’s fifty day moving average is $34.97 and its 200 day moving average is $35.82.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix declared that its Board of Directors has approved a stock buyback program on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.