Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by William Blair Investment Management LLC

William Blair Investment Management LLC grew its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,141,387 shares of the technology company's stock after purchasing an additional 52,621 shares during the quarter. William Blair Investment Management LLC owned approximately 1.61% of Extreme Networks worth $35,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Markets Corp acquired a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $202,000. one8zero8 LLC purchased a new position in shares of Extreme Networks during the fourth quarter worth about $201,000. Natixis Advisors LLC increased its position in Extreme Networks by 12.6% in the 4th quarter. Natixis Advisors LLC now owns 16,801 shares of the technology company's stock valued at $281,000 after acquiring an additional 1,874 shares during the period. Ironwood Investment Management LLC raised its stake in Extreme Networks by 0.7% during the 4th quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company's stock valued at $1,804,000 after acquiring an additional 782 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in Extreme Networks during the 4th quarter valued at approximately $359,000. Institutional investors and hedge funds own 91.05% of the company's stock.

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded down $0.11 during midday trading on Friday, hitting $14.89. The company had a trading volume of 1,655,403 shares, compared to its average volume of 1,410,081. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -15.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a twelve month low of $10.50 and a twelve month high of $19.24. The business has a 50-day simple moving average of $15.73 and a two-hundred day simple moving average of $15.86. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

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Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share 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%. Equities research analysts anticipate 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 permits the company to repurchase $200.00 million in 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 usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company's stock.

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.