Edgestream Partners L.P. Has $3.10 Million Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Edgestream Partners L.P. raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 58.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,024 shares of the technology company’s stock after acquiring an additional 68,059 shares during the quarter. Edgestream Partners L.P. owned approximately 0.14% of Extreme Networks worth $3,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXTR. Creative Planning grew its position in Extreme Networks by 32.1% in the third quarter. Creative Planning now owns 21,140 shares of the technology company’s stock valued at $318,000 after purchasing an additional 5,133 shares in the last quarter. Meritage Portfolio Management grew its holdings in shares of Extreme Networks by 11.7% in the 3rd quarter. Meritage Portfolio Management now owns 59,163 shares of the technology company’s stock valued at $889,000 after acquiring an additional 6,182 shares in the last quarter. Lisanti Capital Growth LLC increased its position in shares of Extreme Networks by 61.0% in the third quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after acquiring an additional 74,080 shares during the last quarter. Versor Investments LP bought a new stake in Extreme Networks during the third quarter worth about $286,000. Finally, Victory Capital Management Inc. boosted its position in Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Trading Up 1.3 %

Shares of Extreme Networks stock opened at $14.85 on Friday. 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 has a fifty day simple moving average of $16.16 and a two-hundred day simple moving average of $15.91. Extreme Networks, Inc. has a 1 year low of $10.50 and a 1 year high of $19.24. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -15.80, a P/E/G ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last posted its 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 return on equity of 110.86% and a negative net margin of 11.98%. Research analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the business’s 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. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

EXTR has been the topic of several recent analyst reports. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Lake Street Capital upped their price target on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. Finally, Rosenblatt Securities restated a “buy” rating and set a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

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.