Allianz Asset Management GmbH Invests $2.71 Million in Calix, Inc $CALX

Key Points

• Allianz Asset Management GmbH invested $2.71 million in Calix, acquiring approximately 50,970 shares during the 2nd quarter, bringing their total ownership to 0.08% of the company.
• Multiple institutional investors have increased their stakes in Calix, with Assenagon Asset Management S.A. boosting its position by 135.6%, holding around $50.4 million in shares.
• Calix's stock has a market capitalization of $4.01 billion, with its shares reaching a high of $64.30 over the past year, indicating significant fluctuations in its stock performance.

Allianz Asset Management GmbH acquired a new position in shares of Calix, Inc (NYSE:CALX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 50,970 shares of the communications equipment provider's stock, valued at approximately $2,711,000. Allianz Asset Management GmbH owned 0.08% of Calix at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CALX. Assenagon Asset Management S.A. boosted its position in shares of Calix by 135.6% during the second quarter. Assenagon Asset Management S.A. now owns 947,738 shares of the communications equipment provider's stock worth $50,410,000 after buying an additional 545,490 shares during the period. Nuveen LLC acquired a new position in shares of Calix during the first quarter worth approximately $15,207,000. Penn Capital Management Company LLC acquired a new position in shares of Calix during the first quarter worth approximately $12,018,000. Alliancebernstein L.P. boosted its position in shares of Calix by 12.1% during the first quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider's stock worth $88,927,000 after buying an additional 270,397 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in Calix in the first quarter worth approximately $8,620,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Stock Performance

Shares of NYSE:CALX opened at $61.35 on Friday. Calix, Inc has a one year low of $28.60 and a one year high of $64.30. The stock has a fifty day moving average of $60.29 and a 200-day moving average of $51.88. The company has a market capitalization of $4.01 billion, a PE ratio of -153.38 and a beta of 1.32.

Insiders Place Their Bets

In other news, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 76,555 shares in the company, valued at approximately $4,593,300. This represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Russo sold 25,000 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $55.40, for a total value of $1,385,000.00. Following the sale, the director owned 2,114,188 shares of the company's stock, valued at $117,126,015.20. This trade represents a 1.17% decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CALX shares. Rosenblatt Securities increased their price target on Calix from $56.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wolfe Research started coverage on Calix in a research note on Monday, July 7th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. increased their price target on Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Roth Capital increased their price target on Calix from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Calix in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Calix has an average rating of "Hold" and an average price target of $64.00.

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.

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