Rock Creek Group LP Has $837,000 Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Rock Creek Group LP reduced its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the technology company's stock after selling 25,000 shares during the quarter. Rock Creek Group LP's holdings in Extreme Networks were worth $837,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock valued at $3,274,000 after purchasing an additional 171,500 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Extreme Networks during the 4th quarter valued at $2,599,000. Legato Capital Management LLC boosted its stake in shares of Extreme Networks by 225.2% during the 4th quarter. Legato Capital Management LLC now owns 107,948 shares of the technology company's stock worth $1,807,000 after acquiring an additional 74,758 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Extreme Networks by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company's stock worth $10,756,000 after acquiring an additional 26,853 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Extreme Networks in the 4th quarter worth about $8,291,000. Institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Down 11.8 %

NASDAQ EXTR traded down $1.59 on Thursday, reaching $11.83. The stock had a trading volume of 758,547 shares, compared to its average volume of 1,467,655. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -12.59, a P/E/G ratio of 3.06 and a beta of 1.72. 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 1 year low of $10.50 and a 1 year high of $19.24. The business has a 50 day moving average price of $15.20 and a 200 day moving average price of $15.87.

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Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted 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 net margin of 11.98% and a negative return on equity of 110.86%. On average, analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its board has approved a share buyback plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated 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 approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

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

Extreme Networks Company 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.