Intech Investment Management LLC Raises Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Intech Investment Management LLC increased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 104.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,712 shares of the technology company’s stock after purchasing an additional 84,625 shares during the period. Intech Investment Management LLC owned 0.12% of Extreme Networks worth $2,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXTR. KBC Group NV grew its stake in Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,745 shares during the period. Royce & Associates LP grew its stake in Extreme Networks by 13.5% in the third quarter. Royce & Associates LP now owns 108,091 shares of the technology company’s stock worth $1,625,000 after purchasing an additional 12,871 shares during the period. Natixis Advisors LLC purchased a new stake in Extreme Networks in the third quarter worth $224,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Extreme Networks by 57.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock worth $11,097,000 after purchasing an additional 269,459 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Extreme Networks by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after purchasing an additional 8,169 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Trading Up 2.1 %

Shares of NASDAQ:EXTR opened at $15.13 on Thursday. The company has a market cap of $2.01 billion, a P/E ratio of -16.10, a PEG ratio of 3.06 and a beta of 1.72. 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 1 year low of $10.50 and a 1 year high of $19.24. The stock’s fifty day moving average price is $15.78 and its 200-day moving average price is $15.87.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com raised 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 issued a $22.00 target price on shares of Extreme Networks in a research note on Friday, February 7th. Lake Street Capital increased their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.30.

Extreme Networks 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.