Gilder Gagnon Howe & Co. LLC Sells 271,790 Shares of Calix, Inc. (NYSE:CALX)

Gilder Gagnon Howe & Co. LLC lowered its position in shares of Calix, Inc. (NYSE:CALX) by 28.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 683,878 shares of the communications equipment provider’s stock after selling 271,790 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 1.03% of Calix worth $23,847,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Nebula Research & Development LLC raised its holdings in Calix by 212.9% during the 4th quarter. Nebula Research & Development LLC now owns 33,251 shares of the communications equipment provider’s stock worth $1,159,000 after purchasing an additional 22,624 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Calix by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,189 shares of the communications equipment provider’s stock worth $1,507,000 after buying an additional 4,040 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Calix during the fourth quarter worth approximately $320,000. Hsbc Holdings PLC lifted its holdings in Calix by 15.4% in the fourth quarter. Hsbc Holdings PLC now owns 20,200 shares of the communications equipment provider’s stock valued at $700,000 after buying an additional 2,693 shares during the period. Finally, Stifel Financial Corp boosted its stake in Calix by 10.9% in the fourth quarter. Stifel Financial Corp now owns 19,512 shares of the communications equipment provider’s stock valued at $680,000 after acquiring an additional 1,924 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Up 1.6 %

Shares of NYSE:CALX opened at $39.66 on Friday. The firm 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 12 month low of $27.60 and a 12 month high of $42.50. The company’s fifty day simple moving average is $34.97 and its 200 day simple moving average is $35.82.

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

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

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 of the company’s stock, valued at $82,563,772.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.90% of the stock is owned by insiders.

Analyst Ratings Changes

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

Calix 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.