Inceptionr LLC Buys Shares of 25,471 Extreme Networks, Inc. (NASDAQ:EXTR)

Inceptionr LLC acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,471 shares of the technology company's stock, valued at approximately $426,000.

A number of other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock valued at $67,124,000 after purchasing an additional 3,399,288 shares during the period. Portolan Capital Management LLC grew its stake in shares of Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock valued at $15,944,000 after buying an additional 700,724 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Extreme Networks by 1,639.7% during the 4th quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock valued at $10,474,000 after buying an additional 589,713 shares during the period. Raymond James Financial Inc. acquired a new position in Extreme Networks during the 4th quarter worth approximately $8,291,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Extreme Networks by 57.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after acquiring an additional 269,459 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

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Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Lake Street Capital raised their target price on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.30.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Extreme Networks Stock Down 0.4 %

Shares of Extreme Networks stock traded down $0.06 during trading on Wednesday, reaching $14.31. The company had a trading volume of 1,067,638 shares, compared to its average volume of 1,062,346. 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, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The firm's fifty day moving average is $16.05 and its 200-day moving average is $15.90. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -15.22, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current year.

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

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.