21,474 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Acquired by Vestcor Inc

Vestcor Inc acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,474 shares of the technology company’s stock, valued at approximately $359,000.

A number of other large investors have also added to or reduced their stakes in EXTR. State of Alaska Department of Revenue increased its holdings in shares of Extreme Networks by 1.0% during 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 acquiring an additional 717 shares in the last quarter. Pacer Advisors Inc. increased its stake in Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after purchasing an additional 741 shares in the last quarter. Arizona State Retirement System raised its holdings in Extreme Networks by 2.4% in the fourth quarter. Arizona State Retirement System now owns 38,299 shares of the technology company’s stock worth $641,000 after buying an additional 881 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Extreme Networks by 1.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock worth $1,070,000 after buying an additional 900 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position 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 valued at $1,065,000 after acquiring an additional 1,541 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was 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 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Stock Up 1.9 %

Extreme Networks stock opened at $14.80 on Tuesday. Extreme Networks, Inc. has a one year low of $10.50 and a one year high of $19.24. The stock has a fifty day moving average of $15.87 and a 200 day moving average of $15.88. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a market cap of $1.96 billion, a PE ratio of -15.74, a price-to-earnings-growth 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 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 EPS for the current year.

Extreme Networks declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a report on Friday, February 7th. Finally, Lake Street Capital upped their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

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.