Insider Selling: Calix (NYSE:CALX) Director Sells 75,000 Shares of Company Stock

Calix, Inc (NYSE:CALX) Director Carl Russo sold 75,000 shares of Calix stock in a transaction on Friday, November 6th. The stock was sold at an average price of $31.07, for a total value of $2,330,250.00. Following the sale, the director owned 1,494,188 shares in the company, valued at $46,424,421.16. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Stock Up 5.3%

CALX traded up $1.63 during trading on Monday, hitting $32.23. 1,146,817 shares of the company traded hands, compared to its average volume of 1,101,978. The firm has a market cap of $1.99 billion, a P/E ratio of 47.40 and a beta of 1.21. The stock’s fifty day moving average is $35.60 and its 200 day moving average is $42.07. Calix, Inc has a one year low of $30.55 and a one year high of $65.00.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, November 2nd. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Calix had a net margin of 3.99% and a return on equity of 5.67%. The business had revenue of $301.71 million for the quarter, compared to analyst estimates of $304.23 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities research analysts forecast that Calix, Inc will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CALX. Roth Capital restated a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Rosenblatt Securities reiterated a “buy” rating and set a $55.00 target price on shares of Calix in a research report on Wednesday, November 4th. Northland Securities upgraded shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of Calix from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings cut shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.80.

Institutional Trading of Calix

A number of institutional investors have recently added to or reduced their stakes in CALX. Diversified Trust Co boosted its position in shares of Calix by 34.4% in the third quarter. Diversified Trust Co now owns 15,857 shares of the communications equipment provider’s stock valued at $545,000 after acquiring an additional 4,056 shares during the period. Maryland State Retirement & Pension System grew its stake in Calix by 48.6% during the third quarter. Maryland State Retirement & Pension System now owns 12,693 shares of the communications equipment provider’s stock valued at $436,000 after acquiring an additional 4,151 shares in the last quarter. Fulcrum Asset Management LLP grew its stake in Calix by 4,381.9% during the third quarter. Fulcrum Asset Management LLP now owns 6,454 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 6,310 shares in the last quarter. Covestor Ltd increased its holdings in Calix by 85.4% during the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 666 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Calix during the 3rd quarter worth approximately $235,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Company Profile

Calix, Inc provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers.

The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.

Founded in 1999 and headquartered in San Jose, California, Calix serves communications service providers in multiple markets, including providers in North America.