Charles Schwab Investment Management Inc. grew its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,221,500 shares of the technology company's stock after purchasing an additional 61,867 shares during the period. Charles Schwab Investment Management Inc. owned about 0.92% of Extreme Networks worth $20,448,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in Extreme Networks during the third quarter worth about $26,000. Byrne Asset Management LLC purchased a new stake in Extreme Networks during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC increased its holdings in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after buying an additional 1,733 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after buying an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock worth $83,000 after buying an additional 2,935 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.
Analyst Ratings Changes
EXTR has been the subject of a number of research reports. Rosenblatt Securities reiterated a "buy" rating and set a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Finally, Lake Street Capital increased their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.30.
Check Out Our Latest Analysis on EXTR
Extreme Networks Price Performance
Shares of EXTR stock traded down $0.11 during trading hours on Friday, reaching $14.89. The stock had a trading volume of 1,655,403 shares, compared to its average volume of 1,410,174. The stock's fifty day simple moving average is $15.69 and its 200 day simple moving average is $15.86. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a 12 month low of $10.50 and a 12 month high of $19.24. The firm has a market capitalization of $1.98 billion, a PE ratio of -15.84, a PEG ratio of 3.06 and a beta of 1.72.
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 net margin of 11.98% and a negative return on equity of 110.86%. On average, equities research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.
Extreme Networks announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Activity
In related news, CEO Edward Meyercord sold 35,725 shares of the firm'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 sale, the chief executive officer now directly owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by company insiders.
Extreme Networks Company Profile
(
Free Report)
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.
See Also
Before you consider Extreme Networks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Extreme Networks wasn't on the list.
While Extreme Networks currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
