New York State Common Retirement Fund Increases Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

New York State Common Retirement Fund boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 1,639.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 625,678 shares of the technology company's stock after acquiring an additional 589,713 shares during the period. New York State Common Retirement Fund owned 0.47% of Extreme Networks worth $10,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EXTR. Quarry LP purchased a new stake in shares of Extreme Networks during the third quarter worth about $26,000. Byrne Asset Management LLC bought a new position in Extreme Networks during the 4th quarter valued at approximately $30,000. Pacer Advisors Inc. lifted its holdings in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after buying an additional 741 shares during the period. KBC Group NV grew its position in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock worth $75,000 after buying an additional 1,745 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after buying an additional 2,935 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analysts Forecast Growth

EXTR has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. Craig Hallum increased their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research note on Thursday, October 31st. StockNews.com upgraded 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, B. Riley lifted their price target on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Extreme Networks has a consensus rating of "Moderate Buy" and an average target price of $20.30.

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Extreme Networks Stock Up 0.2 %

EXTR stock traded up $0.03 on Friday, reaching $15.45. 1,100,787 shares of the company traded hands, compared to its average volume of 1,482,651. 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 firm has a fifty day simple moving average of $16.48 and a 200-day simple moving average of $15.87. Extreme Networks, Inc. has a one year low of $10.50 and a one year high of $19.24. The company has a market cap of $2.05 billion, a P/E ratio of -16.44, a price-to-earnings-growth ratio of 3.06 and a beta of 1.73.

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

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

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

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.