Lyell Wealth Management LP Grows Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Lyell Wealth Management LP boosted its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 568,991 shares of the technology company’s stock after buying an additional 12,975 shares during the quarter. Lyell Wealth Management LP’s holdings in Extreme Networks were worth $9,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its holdings in Extreme Networks by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after acquiring an additional 717 shares during the period. Pacer Advisors Inc. boosted its holdings in Extreme Networks by 31.4% in 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. Andina Capital Management LLC boosted its holdings in Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after acquiring an additional 795 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Extreme Networks by 1.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock worth $1,070,000 after acquiring an additional 900 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its holdings in Extreme Networks by 2.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 1,541 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 target price on shares of Extreme Networks in a research note on Friday, February 7th. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum increased their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Extreme Networks Stock Down 0.2 %

EXTR stock opened at $16.35 on Wednesday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $19.24. The stock’s 50 day simple moving average is $16.86 and its 200 day simple moving average is $15.77.

Extreme Networks (NASDAQ:EXTR) last posted 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 net margin of 11.98% and a negative return on equity of 110.86%. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its Board of Directors has approved a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following the sale, the director now directly owns 371,793 shares of the company’s stock, valued at $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,725 shares of company stock valued at $713,608 over the last three months. Company insiders own 3.70% of the company’s stock.

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.