Natixis Advisors LLC Raises Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Natixis Advisors LLC grew its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,801 shares of the technology company’s stock after acquiring an additional 1,874 shares during the period. Natixis Advisors LLC’s holdings in Extreme Networks were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Portolan Capital Management LLC lifted its holdings in Extreme Networks by 194.6% in the 3rd 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. New York State Common Retirement Fund lifted its holdings in shares of Extreme Networks by 1,639.7% in the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company’s stock worth $10,474,000 after buying an additional 589,713 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Extreme Networks during the fourth quarter worth $8,291,000. Barclays PLC grew its stake in Extreme Networks by 369.8% during the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Extreme Networks in the 4th quarter valued at $2,599,000. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 5.3 %

Shares of NASDAQ EXTR opened at $13.90 on Friday. The stock has a market capitalization of $1.85 billion, a P/E ratio of -14.79, a PEG ratio of 3.06 and a beta of 1.72. The business’s 50 day moving average is $15.45 and its two-hundred day moving average is $15.88. Extreme Networks, Inc. has a 1-year low of $10.50 and a 1-year high of $19.24. 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 (NASDAQ:EXTR) last issued 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 return on equity of 110.86% and a negative net margin of 11.98%. As a group, research analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on EXTR. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. Lake Street Capital upped their price objective on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report 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 report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s 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 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.