Edgestream Partners L.P. Increases Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Edgestream Partners L.P. lifted its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 58.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 185,024 shares of the technology company's stock after buying an additional 68,059 shares during the quarter. Edgestream Partners L.P. owned approximately 0.14% of Extreme Networks worth $3,097,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Quarry LP purchased a new stake in Extreme Networks in the 3rd quarter worth $26,000. Byrne Asset Management LLC purchased a new stake in shares of Extreme Networks in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC boosted its stake 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 valued at $37,000 after buying an additional 1,733 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after buying an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after buying an additional 2,935 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Lake Street Capital increased their target price on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Extreme Networks presently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

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Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, 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 currently owned by company insiders.

Extreme Networks Stock Down 0.4 %

NASDAQ EXTR traded down $0.06 on Wednesday, hitting $14.31. The stock had a trading volume of 1,067,640 shares, compared to its average volume of 1,460,274. The business's fifty day moving average price is $16.05 and its 200 day moving average price is $15.90. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -15.22, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks, Inc. has a 52-week low of $10.50 and a 52-week high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is 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.