Northern Trust Corp Raises Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Northern Trust Corp increased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,482,113 shares of the technology company’s stock after buying an additional 200,193 shares during the quarter. Northern Trust Corp owned about 1.12% of Extreme Networks worth $24,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Byrne Asset Management LLC purchased a new position in Extreme Networks in the fourth quarter valued at about $30,000. Sterling Capital Management LLC raised its position in Extreme Networks by 603.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,665 shares during the period. Smartleaf Asset Management LLC raised its position in Extreme Networks by 385.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,733 shares during the period. Quarry LP raised its position in Extreme Networks by 42.1% in the fourth quarter. Quarry LP now owns 2,426 shares of the technology company’s stock valued at $41,000 after purchasing an additional 719 shares during the period. Finally, Pacer Advisors Inc. raised its position in Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after purchasing an additional 741 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 company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the sale, the chief executive officer now owns 1,510,719 shares in the company, valued at $20,742,171.87. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on EXTR shares. UBS Group cut their price objective on Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Wednesday, April 30th. Lake Street Capital cut their price objective on Extreme Networks from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Extreme Networks in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Extreme Networks Stock Down 0.1%

Shares of NASDAQ EXTR opened at $14.80 on Monday. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -15.74, a PEG ratio of 3.06 and a beta of 1.67. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The stock’s 50-day simple moving average is $13.28 and its 200-day simple moving average is $15.34.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, equities analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.