American Century Companies Inc. Purchases 290,184 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

American Century Companies Inc. raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,837,171 shares of the technology company’s stock after purchasing an additional 290,184 shares during the period. American Century Companies Inc. owned 2.14% of Extreme Networks worth $47,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in Extreme Networks in the third quarter valued at approximately $26,000. Byrne Asset Management LLC acquired a new position in shares of Extreme Networks in the 4th quarter valued at $30,000. Smartleaf Asset Management LLC boosted its position in shares of Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,733 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of 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 purchasing an additional 741 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $22.00 price objective on shares of Extreme Networks in a report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Lake Street Capital boosted their price target on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’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 transaction, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Stock Down 1.5 %

Extreme Networks stock opened at $14.68 on Friday. The company has a 50 day moving average of $15.52 and a 200-day moving average of $15.88. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a twelve month low of $10.50 and a twelve month high of $19.24. The stock has a market capitalization of $1.95 billion, a PE ratio of -15.62, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results 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 return on equity of 110.86% and a negative net margin of 11.98%. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Extreme Networks 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.