Icon Advisers Inc. Co. Sells 26,979 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Icon Advisers Inc. Co. decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 25.2% during the fourth quarter, HoldingsChannel reports. The firm owned 80,000 shares of the technology company’s stock after selling 26,979 shares during the period. Icon Advisers Inc. Co.’s holdings in Extreme Networks were worth $1,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXTR. State Street Corp boosted its stake in Extreme Networks by 1.0% in the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after acquiring an additional 49,905 shares in the last quarter. Barclays PLC grew its stake in Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Extreme Networks by 8.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 101,439 shares of the technology company’s stock worth $1,525,000 after acquiring an additional 8,131 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Extreme Networks in the fourth quarter valued at $267,000. Finally, First Hawaiian Bank purchased a new position in shares of Extreme Networks during the 4th quarter worth approximately $411,000. 91.05% of the stock is currently owned by institutional investors.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’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 value of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EXTR has been the subject of several research reports. Rosenblatt Securities restated 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 reaffirmed a “buy” rating and set 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. Finally, Lake Street Capital upped their price target on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. One equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Extreme Networks Trading Up 0.5 %

Shares of EXTR stock opened at $11.51 on Monday. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year 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 business’s fifty day moving average price is $14.37 and its 200 day moving average price is $15.64. The firm has a market capitalization of $1.53 billion, a PE ratio of -12.24, a P/E/G ratio of 3.06 and a beta of 1.57.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results 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 forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its Board of Directors has initiated a share 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 buy up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.