Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Rock Creek Group LP

Rock Creek Group LP reduced its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,000 shares of the technology company’s stock after selling 25,000 shares during the quarter. Rock Creek Group LP’s holdings in Extreme Networks were worth $837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Extreme Networks in the third quarter valued at approximately $26,000. Byrne Asset Management LLC acquired a new stake in shares of Extreme Networks in the 4th quarter worth $30,000. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 1,733 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock valued at $83,000 after acquiring an additional 2,935 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Buying and Selling at Extreme Networks

In other 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 transaction of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Trading Down 5.3 %

NASDAQ EXTR opened at $13.90 on Friday. 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 firm has a market cap of $1.85 billion, a price-to-earnings ratio of -14.79, a PEG ratio of 3.06 and a beta of 1.72. The firm has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $15.90. Extreme Networks, Inc. has a one year low of $10.50 and a one year high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. Equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its board has authorized a share buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on EXTR. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC reissued 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 price target on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Extreme Networks has a consensus rating of “Moderate Buy” and an average price target of $20.30.

Extreme Networks Company 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.