Vestcor Inc bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,474 shares of the technology company's stock, valued at approximately $359,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Extreme Networks in the 3rd quarter valued at $26,000. Byrne Asset Management LLC purchased a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its position in shares of Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after buying an additional 1,733 shares during the period. Pacer Advisors Inc. grew its stake in shares of Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after buying an additional 741 shares in the last quarter. Finally, KBC Group NV raised its holdings 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 valued at $75,000 after buying an additional 1,745 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.
Insider Activity 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 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. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.
Extreme Networks Stock Performance
NASDAQ EXTR traded down $0.11 during trading hours 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 business has a 50 day moving average of $15.73 and a 200-day moving average of $15.86. 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 1-year low of $10.50 and a 1-year high of $19.24. The company has a market cap of $1.98 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.
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 (EPS) 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%. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current year.
Extreme Networks declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. StockNews.com upgraded shares of 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 target price on shares of Extreme Networks in a research note on Thursday, January 30th. Finally, Lake Street Capital increased their target price on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.30.
Check Out Our Latest Analysis on Extreme Networks
About Extreme Networks
(
Free Report)
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.
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