Gilder Gagnon Howe & Co. LLC Has $23.85 Million Holdings in Calix, Inc. (NYSE:CALX)

Gilder Gagnon Howe & Co. LLC cut its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 683,878 shares of the communications equipment provider's stock after selling 271,790 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 1.03% of Calix worth $23,847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CALX. Vanguard Group Inc. boosted its position 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 last quarter. Dimensional Fund Advisors LP raised its position in Calix by 4.3% in 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 purchasing an additional 74,720 shares during the period. Bank of New York Mellon Corp grew its stake in Calix by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider's stock worth $47,885,000 after acquiring an additional 45,195 shares in the last quarter. 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. grew its stake in Calix by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider's stock valued at $22,639,000 after purchasing an additional 48,098 shares during the last quarter. Institutional investors own 98.14% of the company's stock.

Wall Street Analyst Weigh In

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

Calix Trading Up 1.6 %

CALX traded up $0.66 on Thursday, reaching $41.57. The company had a trading volume of 190,783 shares, compared to its average volume of 681,305. The company has a market capitalization of $2.69 billion, a P/E ratio of -92.46 and a beta of 1.75. The company has a fifty day moving average of $35.03 and a 200-day moving average of $35.89. Calix, Inc. has a one year low of $27.60 and a one year high of $42.50.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. During the same quarter in the previous year, the company posted $0.21 earnings per share. Research analysts predict that Calix, Inc. will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has approved a stock buyback program on Monday, April 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now owns 2,164,188 shares of the company's stock, valued at $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.90% of the stock is owned by company insiders.

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.