Gilder Gagnon Howe & Co. LLC Cuts Position in Calix, Inc. (NYSE:CALX)

Gilder Gagnon Howe & Co. LLC decreased its position in Calix, Inc. (NYSE:CALX - Free Report) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 683,878 shares of the communications equipment provider's stock after selling 271,790 shares during the period. Gilder Gagnon Howe & Co. LLC owned 1.03% of Calix worth $23,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CALX. Vanguard Group Inc. increased its stake in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock valued at $278,185,000 after buying an additional 412,982 shares during the period. Dimensional Fund Advisors LP grew its holdings in Calix by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider's stock worth $63,897,000 after acquiring an additional 74,720 shares in the last quarter. Bank of New York Mellon Corp increased its position in Calix by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider's stock valued at $47,885,000 after purchasing an additional 45,195 shares during the period. Geode Capital Management LLC raised its holdings in shares of Calix by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,337,709 shares of the communications equipment provider's stock valued at $46,657,000 after purchasing an additional 6,144 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Calix by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider's stock worth $22,639,000 after purchasing an additional 48,098 shares during the period. Institutional investors own 98.14% of the company's stock.

Analysts Set New Price Targets

CALX has been the subject of a number of analyst reports. Rosenblatt Securities upped their target price on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 price objective on Calix and gave the company a "buy" rating in a research report on Tuesday, April 22nd. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.83.

Calix Price Performance

NYSE CALX traded up $0.64 during trading hours on Tuesday, reaching $40.69. The company's stock had a trading volume of 865,072 shares, compared to its average volume of 681,828. Calix, Inc. has a 1-year low of $27.60 and a 1-year high of $42.50. The company's 50-day moving average is $34.97 and its two-hundred day moving average is $35.82. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -90.42 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last announced its 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 business had revenue of $220.20 million during the quarter, compared to analysts' expectations of $206.98 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Equities analysts forecast that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its board has initiated a stock 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 reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the sale, the director now directly owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by insiders.

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.