Congress Wealth Management LLC DE Sells 96,213 Shares of Calix, Inc. (NYSE:CALX)

Congress Wealth Management LLC DE cut its stake in shares of Calix, Inc. (NYSE:CALX) by 39.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,617 shares of the communications equipment provider’s stock after selling 96,213 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Calix were worth $5,252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 640 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after acquiring an additional 358 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Calix in the 3rd quarter worth approximately $76,000. Quantbot Technologies LP bought a new stake in Calix during the 4th quarter worth approximately $84,000. Finally, FMR LLC increased its holdings in Calix by 49.0% during the 3rd quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock valued at $93,000 after purchasing an additional 789 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Calix Stock Down 1.4 %

Shares of CALX opened at $36.81 on Wednesday. The stock’s fifty day simple moving average is $37.43 and its 200-day simple moving average is $36.28. The firm has a market capitalization of $2.45 billion, a PE ratio of -81.80 and a beta of 1.78. Calix, Inc. has a 12-month low of $26.76 and a 12-month high of $42.50.

Calix (NYSE:CALX) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. Analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 16.69% of the company’s stock.

Calix Company 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.