Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 71.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,300 shares of the technology company's stock after acquiring an additional 138,810 shares during the period. Extreme Networks comprises 1.3% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 25th biggest position. Lisanti Capital Growth LLC owned approximately 0.25% of Extreme Networks worth $5,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EXTR. Inceptionr LLC acquired a new stake in shares of Extreme Networks during the fourth quarter worth about $426,000. Raymond James Financial Inc. acquired a new stake in Extreme Networks during the 4th quarter worth approximately $8,291,000. Arizona State Retirement System boosted its position in Extreme Networks by 2.4% in the 4th quarter. Arizona State Retirement System now owns 38,299 shares of the technology company's stock valued at $641,000 after buying an additional 881 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Extreme Networks in the fourth quarter worth $200,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Extreme Networks by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,500 shares of the technology company's stock worth $20,448,000 after acquiring an additional 61,867 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The stock was 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 of the company's stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company's stock.

Analyst Ratings Changes

EXTR has been the subject of a number of recent research reports. Lake Street Capital lifted their target price on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a research note 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

Extreme Networks Stock Up 2.8 %

EXTR traded up $0.39 on Tuesday, reaching $14.37. The company's stock had a trading volume of 1,007,919 shares, compared to its average volume of 1,465,056. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $19.24. The stock has a 50 day moving average of $16.10 and a two-hundred day moving average of $15.91. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -15.29, a P/E/G ratio of 3.06 and a beta of 1.72.

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 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%. As a group, analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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

Extreme Networks 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.