Edgestream Partners L.P. Sells 10,905 Shares of Calix, Inc (NYSE:CALX)

Edgestream Partners L.P. trimmed its position in shares of Calix, Inc (NYSE:CALX - Free Report) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,040 shares of the communications equipment provider's stock after selling 10,905 shares during the period. Edgestream Partners L.P. owned 0.08% of Calix worth $1,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Calix during the 4th quarter valued at about $84,000. Mercer Global Advisors Inc. ADV acquired a new position in Calix during the 4th quarter valued at about $208,000. Summit Investment Advisors Inc. boosted its stake in Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after purchasing an additional 465 shares during the period. Magnetar Financial LLC acquired a new position in Calix during the 4th quarter valued at about $222,000. Finally, LVW Advisors LLC acquired a new position in Calix during the 1st quarter valued at about $226,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $52.00, for a total transaction of $520,000.00. Following the transaction, the chief financial officer directly owned 76,285 shares of the company's stock, valued at approximately $3,966,820. The trade was a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carl Russo sold 25,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director directly owned 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.90% of the company's stock.

Analyst Ratings Changes

CALX has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Calix from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Needham & Company LLC restated a "buy" rating and set a $53.00 price target on shares of Calix in a research report on Tuesday, April 22nd. Rosenblatt Securities restated a "buy" rating and set a $56.00 price target on shares of Calix in a research report on Tuesday. Wolfe Research initiated coverage on shares of Calix in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.83.

Calix Stock Up 1.5%

Shares of CALX stock traded up $0.77 during trading hours on Friday, reaching $53.73. 991,799 shares of the stock traded hands, compared to its average volume of 694,933. Calix, Inc has a 1-year low of $28.61 and a 1-year high of $55.00. The business has a fifty day moving average price of $48.54 and a 200 day moving average price of $40.93. The firm has a market capitalization of $3.48 billion, a PE ratio of -103.33 and a beta of 1.37.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. Calix had a negative net margin of 4.20% and a negative return on equity of 4.14%. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. Research analysts expect that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Calix declared that its Board of Directors has approved a share buyback plan on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.