Carl Russo Sells 25,000 Shares of Calix, Inc. (NYSE:CALX) Stock

Calix, Inc. (NYSE:CALX) Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Calix Stock Performance

NYSE:CALX opened at $36.97 on Friday. The stock’s fifty day moving average is $38.06 and its 200 day moving average is $36.64. Calix, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $42.50. The firm has a market capitalization of $2.47 billion, a PE ratio of -82.15 and a beta of 1.70.

Calix (NYSE:CALX) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. Equities analysts forecast that Calix, Inc. will post -0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Institutional Trading of Calix

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Calix by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider’s stock worth $5,027,000 after purchasing an additional 6,984 shares during the period. Yorktown Management & Research Co Inc purchased a new stake in Calix in the fourth quarter worth $314,000. HighTower Advisors LLC purchased a new stake in Calix in the third quarter worth $3,513,000. Geode Capital Management LLC increased its stake in Calix by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider’s stock worth $51,661,000 after purchasing an additional 14,725 shares during the period. Finally, Barclays PLC increased its stake in Calix by 184.0% in the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after purchasing an additional 73,588 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Company Profile

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.