Principal Financial Group Inc. Has $10.03 Million Stake in Calix, Inc. (NYSE:CALX)

Principal Financial Group Inc. raised its position in shares of Calix, Inc. (NYSE:CALX) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,509 shares of the communications equipment provider’s stock after buying an additional 10,393 shares during the period. Principal Financial Group Inc. owned about 0.43% of Calix worth $10,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings 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 purchasing an additional 358 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Calix by 16.7% in the third quarter. Assetmark Inc. now owns 3,381 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 485 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Calix by 0.4% in the third quarter. National Bank of Canada FI now owns 142,187 shares of the communications equipment provider’s stock valued at $5,515,000 after purchasing an additional 520 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Calix by 42.1% in the third quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock valued at $68,000 after purchasing an additional 522 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Calix by 49.0% in the third 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 analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 17.04% of the company’s stock.

Calix Stock Performance

Shares of CALX stock opened at $36.97 on Friday. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $42.50. The stock has a market cap of $2.45 billion, a PE ratio of -82.15 and a beta of 1.70. The firm’s 50 day moving average price is $38.06 and its two-hundred day moving average price is $36.65.

Calix (NYSE:CALX) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix 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.