Calix, Inc. (NYSE:CALX) Stake Lowered by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Calix, Inc. (NYSE:CALX - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,238,826 shares of the communications equipment provider's stock after selling 3,016,625 shares during the quarter. Alliancebernstein L.P. owned about 3.38% of Calix worth $78,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CALX. Smartleaf Asset Management LLC increased its stake in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 640 shares during the period. Pacer Advisors Inc. increased its position in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after acquiring an additional 358 shares during the period. Quantbot Technologies LP purchased a new stake in Calix during the 4th quarter valued at approximately $84,000. FMR LLC lifted its position in Calix by 49.0% during the 3rd quarter. FMR LLC now owns 2,398 shares of the communications equipment provider's stock worth $93,000 after acquiring an additional 789 shares during the period. Finally, KBC Group NV grew its stake in shares of Calix by 57.8% in the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after purchasing an additional 1,015 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Stock Performance

CALX traded up $1.29 on Tuesday, reaching $32.93. 203,137 shares of the company's stock were exchanged, compared to its average volume of 693,236. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -73.05 and a beta of 1.75. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $42.50. The company's 50 day moving average is $36.72 and its 200-day moving average is $36.17.

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

Analyst Upgrades and Downgrades

CALX has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $45.00 price target on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Calix presently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred 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 sale, the director now owns 2,164,188 shares in the company, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.69% of the stock is currently owned by corporate insiders.

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.