American Century Companies Inc. Buys 290,184 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

American Century Companies Inc. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,837,171 shares of the technology company's stock after buying an additional 290,184 shares during the quarter. American Century Companies Inc. owned approximately 2.14% of Extreme Networks worth $47,494,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EXTR. Portolan Capital Management LLC increased its stake in shares of Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after purchasing an additional 700,724 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Extreme Networks by 1,639.7% in the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock valued at $10,474,000 after buying an additional 589,713 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Extreme Networks during the 4th quarter valued at $8,291,000. Barclays PLC grew its stake in shares of Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after acquiring an additional 171,500 shares during the period. Finally, Essex Investment Management Co. LLC bought a new stake in Extreme Networks in the 4th quarter valued at about $2,599,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

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Extreme Networks Price Performance

Shares of Extreme Networks stock traded down $0.10 on Tuesday, hitting $13.13. 1,313,122 shares of the company traded hands, compared to its average volume of 1,472,853. Extreme Networks, Inc. has a 12-month low of $10.50 and a 12-month high of $19.24. 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 company has a market cap of $1.74 billion, a P/E ratio of -13.97, a P/E/G ratio of 3.06 and a beta of 1.72. The firm's 50-day simple moving average is $15.28 and its 200 day simple moving average is $15.89.

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

Extreme Networks announced that its board has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

About Extreme Networks

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.