one8zero8 LLC Invests $201,000 in Extreme Networks, Inc. (NASDAQ:EXTR)

one8zero8 LLC bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,000 shares of the technology company’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of the business. Portolan Capital Management LLC increased its holdings in shares of Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after purchasing an additional 700,724 shares during the last quarter. New York State Common Retirement Fund grew its position in 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 acquiring an additional 589,713 shares during the period. Raymond James Financial Inc. purchased a new position in Extreme Networks in the fourth quarter worth approximately $8,291,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Extreme Networks by 57.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock worth $11,097,000 after acquiring an additional 269,459 shares during the period. Finally, Barclays PLC grew its position in Extreme Networks by 369.8% in the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock worth $3,274,000 after acquiring an additional 171,500 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Extreme Networks Stock Up 1.9 %

Shares of NASDAQ EXTR opened at $14.80 on Tuesday. The stock has a market cap of $1.96 billion, a P/E ratio of -15.74, a PEG 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, Inc. has a 12-month low of $10.50 and a 12-month high of $19.24. The business’s fifty day simple moving average is $15.87 and its 200-day simple moving average is $15.88.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) 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, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its board has authorized a share buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on EXTR shares. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research 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 research report on Friday, February 7th. Finally, Lake Street Capital raised their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.30.

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.