one8zero8 LLC Purchases Shares of 12,000 Extreme Networks, Inc. (NASDAQ:EXTR)

one8zero8 LLC purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 12,000 shares of the technology company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after purchasing an additional 49,905 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Extreme Networks by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,500 shares of the technology company’s stock worth $20,448,000 after purchasing an additional 61,867 shares in the last quarter. Portolan Capital Management LLC increased its position in shares of Extreme Networks by 194.6% during the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after purchasing an additional 700,724 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Extreme Networks by 3.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 761,283 shares of the technology company’s stock worth $12,744,000 after purchasing an additional 22,986 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Extreme Networks by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company’s stock worth $10,756,000 after purchasing an additional 26,853 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on EXTR shares. Lake Street Capital lifted their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Extreme Networks has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Extreme Networks Price Performance

Shares of EXTR opened at $14.80 on Tuesday. Extreme Networks, Inc. has a twelve month low of $10.50 and a twelve month high of $19.24. The stock’s 50 day moving average is $15.87 and its two-hundred day moving average is $15.88. The firm has a market capitalization of $1.96 billion, a PE ratio of -15.74, a P/E/G ratio of 3.06 and a beta of 1.72. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data 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 net margin of 11.98% and a negative return on equity of 110.86%. Research analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The sale was disclosed in a document filed 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 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.