Y Intercept Hong Kong Ltd Invests $551,000 in Extreme Networks, Inc. (NASDAQ:EXTR)

Y Intercept Hong Kong Ltd acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,918 shares of the technology company's stock, valued at approximately $551,000.

Several other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in Extreme Networks by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company's stock valued at $1,257,000 after buying an additional 717 shares in the last quarter. Pacer Advisors Inc. increased its position in Extreme Networks by 31.4% during the fourth 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. Louisiana State Employees Retirement System raised its position in Extreme Networks by 1.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company's stock valued at $1,070,000 after purchasing an additional 900 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Extreme Networks by 2.2% during the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company's stock worth $1,065,000 after buying an additional 1,541 shares during the period. Finally, Andina Capital Management LLC increased its position in Extreme Networks by 8.2% in the 4th quarter. Andina Capital Management LLC now owns 22,076 shares of the technology company's stock valued at $370,000 after acquiring an additional 1,671 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Lake Street Capital lifted 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. 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. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Finally, 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.30.

Insider Activity

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 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 owns 1,478,941 shares in the company, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company's stock.

Extreme Networks Trading Up 4.1 %

Shares of EXTR traded up $0.60 on Wednesday, hitting $15.16. 1,077,393 shares of the stock traded hands, compared to its average volume of 1,473,860. The stock's 50 day moving average is $16.26 and its two-hundred day moving average is $15.91. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The firm has a market capitalization of $2.01 billion, a P/E ratio of -16.13, a P/E/G ratio of 3.06 and a beta of 1.73. Extreme Networks, Inc. has a 1 year low of $10.50 and a 1 year high of $19.24.

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 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%. As a group, sell-side analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has initiated a share repurchase 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board 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.