Sei Investments Co. Has $626,000 Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Sei Investments Co. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 187.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,370 shares of the technology company's stock after purchasing an additional 24,370 shares during the quarter. Sei Investments Co.'s holdings in Extreme Networks were worth $626,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Extreme Networks by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after purchasing an additional 290,184 shares during the period. Quantbot Technologies LP acquired a new position in Extreme Networks in the fourth quarter worth about $230,000. Intech Investment Management LLC boosted its holdings in Extreme Networks by 104.4% during the fourth quarter. Intech Investment Management LLC now owns 165,712 shares of the technology company's stock valued at $2,774,000 after purchasing an additional 84,625 shares in the last quarter. Brooktree Capital Management lifted its position in shares of Extreme Networks by 0.7% during the 4th quarter. Brooktree Capital Management now owns 180,669 shares of the technology company's stock worth $3,024,000 after buying an additional 1,221 shares during the period. Finally, South Street Advisors LLC boosted its stake in Extreme Networks by 3.8% in the 4th quarter. South Street Advisors LLC now owns 319,610 shares of the technology company's stock valued at $5,350,000 after buying an additional 11,620 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Extreme Networks Trading Down 0.3 %

Shares of EXTR stock traded down $0.03 on Tuesday, reaching $11.82. The company had a trading volume of 44,295 shares, compared to its average volume of 1,474,381. Extreme Networks, Inc. has a 12 month low of $10.10 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 stock has a market cap of $1.57 billion, a PE ratio of -12.59, a PEG ratio of 3.06 and a beta of 1.57. The company has a 50-day moving average of $14.29 and a 200-day moving average of $15.62.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results 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 return on equity of 110.86% and a negative net margin of 11.98%. On average, equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its board has authorized a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the business'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 sale, the chief executive officer now directly owns 1,478,941 shares in the company, valued at $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 SEC, which is available at the SEC website. Company insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

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