Extreme Networks, Inc. (NASDAQ:EXTR) Stock Holdings Decreased by West Tower Group LLC

West Tower Group LLC lowered its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 13.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,000 shares of the technology company’s stock after selling 2,000 shares during the period. West Tower Group LLC’s holdings in Extreme Networks were worth $218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Extreme Networks in the 3rd quarter valued at about $26,000. Byrne Asset Management LLC acquired a new position in shares of Extreme Networks in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its holdings 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 valued at $37,000 after buying an additional 1,733 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after buying an additional 741 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares during the period. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Up 0.1 %

Extreme Networks stock opened at $14.82 on Wednesday. The firm has a 50-day moving average price of $15.83 and a two-hundred day moving average price of $15.87. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -15.77, a PEG ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a 52-week low of $10.50 and a 52-week high of $19.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results 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%. Sell-side analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has approved a share repurchase program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Extreme Networks in a research note on Friday, February 7th. Finally, Lake Street Capital boosted 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.