Canada Pension Plan Investment Board Sells 25,700 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Canada Pension Plan Investment Board lowered its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,000 shares of the technology company's stock after selling 25,700 shares during the period. Canada Pension Plan Investment Board owned approximately 0.12% of Extreme Networks worth $2,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC bought a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $30,000. Sterling Capital Management LLC lifted its position in shares of Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after acquiring an additional 1,665 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Extreme Networks by 385.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after purchasing an additional 1,733 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after purchasing an additional 741 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Extreme Networks by 146.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after purchasing an additional 2,935 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on EXTR. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Rosenblatt Securities decreased their price objective on shares of Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Lake Street Capital upped their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average price target of $19.50.

Extreme Networks Trading Up 2.7 %

Shares of Extreme Networks stock opened at $11.41 on Wednesday. The firm has a market capitalization of $1.51 billion, a PE ratio of -12.14, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. 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's 50 day moving average is $13.79 and its 200 day moving average is $15.47. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (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 research analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.