Fox Run Management L.L.C. Takes $1.62 Million Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Fox Run Management L.L.C. purchased a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,511 shares of the technology company's stock, valued at approximately $1,616,000. Fox Run Management L.L.C. owned 0.07% of Extreme Networks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Extreme Networks during the fourth quarter valued at about $455,000. AXQ Capital LP bought a new stake in Extreme Networks in the 4th quarter worth approximately $176,000. Sei Investments Co. boosted its stake in Extreme Networks by 187.5% in the fourth quarter. Sei Investments Co. now owns 37,370 shares of the technology company's stock worth $626,000 after buying an additional 24,370 shares in the last quarter. American Century Companies Inc. grew its position in Extreme Networks by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock valued at $47,494,000 after acquiring an additional 290,184 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Extreme Networks during the fourth quarter worth approximately $230,000. 91.05% of the stock is currently owned by institutional investors.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of 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 trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Lake Street Capital boosted their price objective on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of 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 issued a buy rating to the company. According to data from MarketBeat.com, Extreme Networks has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

Extreme Networks Stock Performance

Shares of Extreme Networks stock remained flat at $15.29 during midday trading on Tuesday. The company had a trading volume of 177,669 shares, compared to its average volume of 1,407,809. The company's 50 day moving average is $15.66 and its 200 day moving average is $15.88. Extreme Networks, Inc. has a one year low of $10.50 and a one year high of $19.24. The company has a market capitalization of $2.03 billion, a P/E ratio of -16.26, a PEG ratio of 3.06 and a beta of 1.72. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

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

Extreme Networks declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is 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.