Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by South Street Advisors LLC

South Street Advisors LLC grew its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 319,610 shares of the technology company’s stock after acquiring an additional 11,620 shares during the period. South Street Advisors LLC’s holdings in Extreme Networks were worth $5,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC raised its holdings in shares of Extreme Networks by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,141,387 shares of the technology company’s stock valued at $35,847,000 after purchasing an additional 52,621 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Extreme Networks in the 4th quarter valued at $202,000. one8zero8 LLC acquired a new stake in shares of Extreme Networks in the 4th quarter valued at $201,000. Natixis Advisors LLC raised its holdings in shares of Extreme Networks by 12.6% in the 4th quarter. Natixis Advisors LLC now owns 16,801 shares of the technology company’s stock valued at $281,000 after purchasing an additional 1,874 shares in the last quarter. Finally, Ironwood Investment Management LLC raised its holdings in shares of Extreme Networks by 0.7% in the 4th quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company’s stock valued at $1,804,000 after purchasing an additional 782 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on 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 directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by insiders.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $14.80 on Tuesday. The company’s fifty day moving average price is $15.87 and its 200 day moving average price is $15.88. Extreme Networks, Inc. has a 12 month low of $10.50 and a 12 month high of $19.24. 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 market capitalization of $1.96 billion, a P/E ratio of -15.74, a P/E/G ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) 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 fiscal year.

Extreme Networks declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.