Envestnet Asset Management Inc. Purchases 9,144 Shares of Calix, Inc. (NYSE:CALX)

Envestnet Asset Management Inc. boosted its position in shares of Calix, Inc. (NYSE:CALXGet Rating) by 48.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,871 shares of the communications equipment provider’s stock after buying an additional 9,144 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Calix were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CALX. PNC Financial Services Group Inc. raised its holdings in Calix by 865.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,390 shares of the communications equipment provider’s stock valued at $59,000 after buying an additional 1,246 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in Calix by 34.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,866 shares of the communications equipment provider’s stock worth $80,000 after purchasing an additional 481 shares in the last quarter. Lazard Asset Management LLC bought a new position in Calix in the 1st quarter worth $85,000. Securian Asset Management Inc. bought a new position in Calix in the 1st quarter worth $210,000. Finally, Federated Hermes Inc. bought a new position in Calix in the 1st quarter worth $222,000. 81.28% of the stock is currently owned by institutional investors.

Calix Stock Performance

Shares of CALX stock opened at $68.49 on Friday. Calix, Inc. has a one year low of $31.59 and a one year high of $80.95. The company’s 50-day moving average is $64.13 and its 200 day moving average is $51.76. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 96.46 and a beta of 1.70.

Calix (NYSE:CALXGet Rating) last announced its quarterly earnings data on Monday, October 24th. The communications equipment provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. Calix had a net margin of 6.12% and a return on equity of 6.91%. The company had revenue of $236.33 million for the quarter, compared to the consensus estimate of $215.25 million. During the same period in the prior year, the firm posted $0.25 EPS. Calix’s revenue for the quarter was up 37.2% on a year-over-year basis. As a group, research analysts predict that Calix, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on CALX shares. Roth Capital started coverage on shares of Calix in a report on Monday, October 3rd. They issued a “buy” rating for the company. Westpark Capital started coverage on shares of Calix in a report on Tuesday, September 13th. They issued a “buy” rating for the company. Needham & Company LLC upped their price objective on shares of Calix from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, October 26th. Cowen increased their price target on shares of Calix from $71.00 to $90.00 in a research note on Wednesday, October 26th. Finally, Northland Securities increased their price target on shares of Calix from $65.00 to $80.00 in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Calix currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Insider Activity

In other news, CFO Cory Sindelar sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $74.52, for a total transaction of $223,560.00. Following the sale, the chief financial officer now owns 69,848 shares of the company’s stock, valued at approximately $5,205,072.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kathleen M. Crusco sold 24,176 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $73.21, for a total value of $1,769,924.96. Following the transaction, the director now owns 54,705 shares of the company’s stock, valued at $4,004,953.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cory Sindelar sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $74.52, for a total transaction of $223,560.00. Following the completion of the transaction, the chief financial officer now directly owns 69,848 shares in the company, valued at approximately $5,205,072.96. The disclosure for this sale can be found here. Insiders have sold a total of 32,176 shares of company stock valued at $2,346,735 in the last 90 days. 16.64% of the stock is currently owned by insiders.

About Calix

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Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.

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Institutional Ownership by Quarter for Calix (NYSE:CALX)

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