Ariadne Wealth Management LP Purchases Shares of 1,689 Calix, Inc. (NYSE:CALX)

Ariadne Wealth Management LP purchased a new position in shares of Calix, Inc. (NYSE:CALX) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 1,689 shares of the communications equipment provider’s stock, valued at approximately $60,000.

A number of other large investors also recently modified their holdings of CALX. TFO Wealth Partners LLC raised its stake in shares of Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after acquiring an additional 1,103 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of Calix by 213.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after purchasing an additional 643,392 shares in the last quarter. Seven Eight Capital LP boosted its position in shares of Calix by 18.9% in the fourth quarter. Seven Eight Capital LP now owns 18,312 shares of the communications equipment provider’s stock worth $800,000 after buying an additional 2,910 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Calix by 28.6% in the fourth quarter. Neuberger Berman Group LLC now owns 167,851 shares of the communications equipment provider’s stock valued at $7,333,000 after buying an additional 37,333 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its holdings in shares of Calix by 9.6% during the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock valued at $38,259,000 after buying an additional 76,546 shares during the period. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CALX has been the subject of several recent research reports. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. Craig Hallum lifted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Finally, Roth Mkm boosted their price target on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Calix has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the transaction, the director now owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.69% of the company’s stock.

Calix Stock Performance

CALX opened at $37.94 on Wednesday. The company has a market capitalization of $2.49 billion, a P/E ratio of 122.39 and a beta of 1.74. The company has a 50-day moving average of $37.28 and a 200-day moving average of $34.45. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $46.29.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Calix had a return on equity of 4.17% and a net margin of 0.52%. The firm had revenue of $198.14 million during the quarter, compared to analyst estimates of $200.77 million. During the same period in the previous year, the company earned $0.15 earnings per share. Calix’s quarterly revenue was down 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

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.