Allianz Asset Management GmbH Buys Shares of 50,970 Calix, Inc $CALX

Allianz Asset Management GmbH bought a new stake in shares of Calix, Inc (NYSE:CALX) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 50,970 shares of the communications equipment provider’s stock, valued at approximately $2,711,000.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Calix by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 294,539 shares of the communications equipment provider’s stock valued at $10,438,000 after purchasing an additional 7,030 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Calix in the first quarter worth $922,000. American Century Companies Inc. increased its stake in shares of Calix by 22.8% in the first quarter. American Century Companies Inc. now owns 144,323 shares of the communications equipment provider’s stock worth $5,115,000 after acquiring an additional 26,778 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Calix by 50.4% in the first quarter. Russell Investments Group Ltd. now owns 107,313 shares of the communications equipment provider’s stock worth $3,803,000 after acquiring an additional 35,976 shares during the last quarter. Finally, CW Advisors LLC increased its stake in shares of Calix by 38.1% in the first quarter. CW Advisors LLC now owns 208,017 shares of the communications equipment provider’s stock worth $7,372,000 after acquiring an additional 57,400 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Price Performance

Calix stock opened at $61.35 on Friday. Calix, Inc has a one year low of $28.60 and a one year high of $64.30. The company’s fifty day moving average price is $60.29 and its two-hundred day moving average price is $51.88. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of -153.38 and a beta of 1.32.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the sale, the director directly owned 2,114,188 shares in the company, valued at $117,126,015.20. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cory Sindelar sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 76,555 shares of the company’s stock, valued at $4,593,300. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CALX has been the topic of a number of research reports. Zacks Research downgraded shares of Calix from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. upped their price target on shares of Calix from $38.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Roth Capital upped their price target on shares of Calix from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Calix in a research report on Friday. Finally, Rosenblatt Securities increased their target price on shares of Calix from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Calix has an average rating of “Hold” and a consensus target price of $64.00.

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.