Alliancebernstein L.P. Has $78.07 Million Stock Position in Calix, Inc. (NYSE:CALX)

Alliancebernstein L.P. lessened its position in Calix, Inc. (NYSE:CALX) by 57.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,238,826 shares of the communications equipment provider’s stock after selling 3,016,625 shares during the period. Alliancebernstein L.P. owned approximately 3.38% of Calix worth $78,068,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Calix by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider’s stock valued at $7,053,000 after purchasing an additional 1,135 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Calix during the fourth quarter valued at about $1,079,000. New Age Alpha Advisors LLC bought a new stake in shares of Calix during the fourth quarter worth about $2,981,000. Norges Bank acquired a new stake in shares of Calix in the 4th quarter worth about $11,518,000. Finally, JPMorgan Chase & Co. lifted its position in Calix by 93.0% in the 4th quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider’s stock valued at $8,585,000 after acquiring an additional 118,629 shares in the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares in the company, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.69% of the stock is owned by insiders.

Calix Trading Down 8.2 %

NYSE:CALX opened at $32.39 on Friday. The firm’s 50 day moving average is $36.99 and its 200 day moving average is $36.26. Calix, Inc. has a 12 month low of $26.76 and a 12 month high of $42.50. The stock has a market capitalization of $2.16 billion, a PE ratio of -71.97 and a beta of 1.78.

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

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.