495,253 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 495,253 shares of the technology company’s stock, valued at approximately $8,291,000. Raymond James Financial Inc. owned approximately 0.37% of Extreme Networks as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System grew its position in Extreme Networks by 2.4% during the fourth quarter. Arizona State Retirement System now owns 38,299 shares of the technology company’s stock worth $641,000 after buying an additional 881 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Extreme Networks during the fourth quarter worth about $200,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Extreme Networks by 5.3% in the 4th 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. Smartleaf Asset Management LLC boosted its holdings in shares of Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Extreme Networks in the 4th quarter worth about $551,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXTR. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. 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. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Extreme Networks Trading Down 0.7 %

Shares of EXTR stock opened at $14.89 on Friday. The stock has a market capitalization of $1.98 billion, a PE ratio of -15.84, a P/E/G ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a 1-year low of $10.50 and a 1-year high of $19.24. The business has a 50-day moving average of $15.69 and a 200 day moving average of $15.86. 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 earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

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

Insider Activity 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 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 transaction, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by company insiders.

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.