Raymond James Financial Inc. Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Raymond James Financial Inc. bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 495,253 shares of the technology company's stock, valued at approximately $8,291,000. Raymond James Financial Inc. owned 0.37% of Extreme Networks at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its stake in Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after purchasing an additional 1,745 shares during the period. Natixis Advisors LLC acquired a new position in Extreme Networks in the 3rd quarter valued at about $224,000. Intech Investment Management LLC increased its position in Extreme Networks by 36.6% in the 3rd quarter. Intech Investment Management LLC now owns 81,087 shares of the technology company's stock valued at $1,219,000 after acquiring an additional 21,739 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Extreme Networks by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company's stock valued at $17,429,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in Extreme Networks by 35.9% during the 3rd quarter. Raymond James Trust N.A. now owns 34,100 shares of the technology company's stock worth $513,000 after acquiring an additional 9,000 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

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Extreme Networks Price Performance

Shares of NASDAQ:EXTR traded down $0.29 on Wednesday, reaching $14.91. 685,738 shares of the company were exchanged, compared to its average volume of 1,402,169. The company has a 50-day moving average of $15.62 and a 200-day moving average of $15.89. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -15.86, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a 1-year low of $10.50 and a 1-year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

EXTR has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. Rosenblatt Securities restated a "buy" rating and set a $22.00 price objective on shares of Extreme Networks in a research report on Friday, February 7th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Finally, Lake Street Capital boosted their price target on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.30.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.