KLP Kapitalforvaltning AS Invests $455,000 in Extreme Networks, Inc. (NASDAQ:EXTR)

KLP Kapitalforvaltning AS bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 27,200 shares of the technology company's stock, valued at approximately $455,000.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Extreme Networks during the third quarter valued at about $26,000. Byrne Asset Management LLC purchased a new position in Extreme Networks during the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its holdings in shares of Extreme Networks by 385.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after acquiring an additional 1,733 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after acquiring an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Extreme Networks by 146.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after purchasing an additional 2,935 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Trading Down 5.1 %

Shares of EXTR traded down $0.59 during mid-day trading on Friday, reaching $11.03. 2,316,248 shares of the company's stock traded hands, compared to its average volume of 1,476,744. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The stock's 50-day moving average is $14.97 and its two-hundred day moving average is $15.82. Extreme Networks, Inc. has a 12 month low of $10.17 and a 12 month high of $19.24. The stock has a market cap of $1.46 billion, a P/E ratio of -11.73, a P/E/G ratio of 3.06 and a beta of 1.57.

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

Extreme Networks announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 completion of the sale, the chief executive officer now directly owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. Lake Street Capital upped 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, Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.