Inceptionr LLC Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Inceptionr LLC purchased a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,471 shares of the technology company’s stock, valued at approximately $426,000.

A number of other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in shares of Extreme Networks by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock valued at $1,257,000 after purchasing an additional 717 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Extreme Networks by 31.4% during 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 in the last quarter. Arizona State Retirement System boosted its stake in shares of Extreme Networks by 2.4% during the fourth quarter. Arizona State Retirement System now owns 38,299 shares of the technology company’s stock valued at $641,000 after purchasing an additional 881 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Extreme Networks by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock valued at $1,070,000 after purchasing an additional 900 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of Extreme Networks by 2.2% during the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock valued at $1,065,000 after purchasing an additional 1,541 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXTR has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. Lake Street Capital lifted their price objective on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the business’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 sale, the chief executive officer now owns 1,478,941 shares in the company, valued at $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Extreme Networks Trading Up 1.3 %

Shares of EXTR stock opened at $14.85 on Friday. The company has a market cap of $1.97 billion, a P/E ratio of -15.80, a PEG ratio of 3.06 and a beta of 1.72. The stock has a 50 day simple moving average of $16.16 and a two-hundred day simple moving average of $15.91. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. Extreme Networks, Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $19.24.

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 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%. Research analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $200.00 million in 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 usually an indication 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.