Formula Growth Ltd. Buys 55,000 Shares of Calix, Inc. (NYSE:CALX)

Formula Growth Ltd. lifted its stake in shares of Calix, Inc. (NYSE:CALX) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,000 shares of the communications equipment provider’s stock after buying an additional 55,000 shares during the period. Calix comprises approximately 1.8% of Formula Growth Ltd.’s investment portfolio, making the stock its 9th biggest position. Formula Growth Ltd. owned approximately 0.23% of Calix worth $5,405,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 640 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 358 shares during the period. Quantbot Technologies LP bought a new position in shares of Calix during the fourth quarter worth about $84,000. FMR LLC lifted its stake in shares of Calix by 49.0% in the third 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 increased its position in Calix by 57.8% during 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 period. 98.14% of the stock is currently owned by institutional investors.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 2,164,188 shares in the company, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 16.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CALX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on Calix from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.33.

Calix Stock Up 0.0 %

Shares of NYSE:CALX opened at $33.80 on Friday. The stock’s 50 day moving average is $35.25 and its 200-day moving average is $35.83. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $42.50. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -75.12 and a beta of 1.75.

Calix (NYSE:CALX) last released its quarterly earnings data 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 net margin of 3.58% and a negative return on equity of 3.43%. Equities research analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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.