Needham Investment Management LLC bought a new stake in Casa Systems Inc (NASDAQ:CASA) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 21,108 shares of the company’s stock, valued at approximately $375,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of CASA. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Casa Systems in the fourth quarter valued at about $232,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Casa Systems during the fourth quarter worth about $1,320,000. MYDA Advisors LLC acquired a new stake in shares of Casa Systems during the fourth quarter worth about $1,598,000. Monashee Investment Management LLC acquired a new stake in shares of Casa Systems during the fourth quarter worth about $2,229,000. Finally, Summit Partners L P acquired a new stake in Casa Systems in the fourth quarter valued at approximately $689,834,000. Hedge funds and other institutional investors own 55.33% of the company’s stock.
Several brokerages recently weighed in on CASA. Zacks Investment Research raised shares of Casa Systems from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday. William Blair initiated coverage on shares of Casa Systems in a research report on Tuesday, January 9th. They issued an “outperform” rating on the stock. Stifel Nicolaus initiated coverage on shares of Casa Systems in a research report on Tuesday, January 9th. They set a “buy” rating and a $23.00 target price on the stock. Macquarie initiated coverage on shares of Casa Systems in a research report on Wednesday, January 10th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, Raymond James Financial started coverage on Casa Systems in a research note on Tuesday, January 9th. They set an “outperform” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.71.
Casa Systems Inc (CASA) traded up $1.20 during midday trading on Wednesday, reaching $31.20. The company’s stock had a trading volume of 1,340,000 shares, compared to its average volume of 558,119. Casa Systems Inc has a 52-week low of $13.25 and a 52-week high of $31.40. The company has a debt-to-equity ratio of 5.89, a quick ratio of 3.87 and a current ratio of 4.23. The stock has a market cap of $2,500.00 and a PE ratio of 120.00.
In other news, CEO Jerry Guo bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was acquired at an average price of $13.00 per share, with a total value of $1,300,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Evans bought 250,000 shares of Casa Systems stock in a transaction dated Tuesday, December 19th. The shares were bought at an average cost of $13.00 per share, with a total value of $3,250,000.00. The disclosure for this purchase can be found here.
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Casa Systems Profile
Casa Systems, Inc is provides a software-centric infrastructure solutions. In addition, the Company offers solutions for next-generation distributed and virtualized architectures in cable operator, fixed telecom and wireless networks. Its products include axyom software platform, delivery platforms, multi-service applications, capacity expansion products.
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