Extreme Networks, Inc. (NASDAQ:EXTR) Stock Holdings Boosted by William Blair Investment Management LLC

William Blair Investment Management LLC raised its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,141,387 shares of the technology company’s stock after purchasing an additional 52,621 shares during the quarter. William Blair Investment Management LLC owned about 1.61% of Extreme Networks worth $35,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in shares of Extreme Networks by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock valued at $1,257,000 after acquiring an additional 717 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after acquiring an additional 741 shares during the last quarter. Ironwood Investment Management LLC lifted its position in shares of Extreme Networks by 0.7% during the 4th quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company’s stock valued at $1,804,000 after acquiring an additional 782 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Extreme Networks by 2.4% during the 4th quarter. Arizona State Retirement System now owns 38,299 shares of the technology company’s stock valued at $641,000 after acquiring an additional 881 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Extreme Networks by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock valued at $1,070,000 after acquiring an additional 900 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, 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 the SEC website. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

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

Extreme Networks Price Performance

EXTR opened at $14.80 on Tuesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of -15.74, a PEG ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a 12-month low of $10.50 and a 12-month high of $19.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The stock has a fifty day moving average of $15.87 and a 200-day moving average of $15.88.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data 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%. Equities analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.