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

South Street Advisors LLC grew its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. 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 owned about 0.24% of Extreme Networks worth $5,350,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp raised its position in shares of Extreme Networks by 1.0% during the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after purchasing an additional 49,905 shares during the last quarter. William Blair Investment Management LLC raised its holdings in 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 acquiring an additional 52,621 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Extreme Networks by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,500 shares of the technology company’s stock valued at $20,448,000 after acquiring an additional 61,867 shares during the last quarter. Portolan Capital Management LLC raised its holdings in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after acquiring an additional 700,724 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Extreme Networks by 3.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 761,283 shares of the technology company’s stock valued at $12,744,000 after acquiring an additional 22,986 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EXTR. Lake Street Capital increased their price objective 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. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.30.

Insiders Place Their Bets

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

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $14.80 on Tuesday. 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 capitalization of $1.96 billion, a P/E ratio of -15.74, a PEG ratio of 3.06 and a beta of 1.72. The company has a 50 day moving average price of $15.87 and a 200 day moving average price of $15.88. Extreme Networks, Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $19.24.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data 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%. Equities research analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

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