Extreme Networks, Inc. (NASDAQ:EXTR) Holdings Reduced by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC lessened its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,425 shares of the technology company’s stock after selling 824 shares during the period. Villanova Investment Management Co LLC owned 0.06% of Extreme Networks worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Quarry LP bought a new stake in Extreme Networks during the 3rd quarter valued at $26,000. Byrne Asset Management LLC acquired a new stake in Extreme Networks in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC grew its position in Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after buying an additional 1,733 shares in the last quarter. Pacer Advisors Inc. increased its stake in 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 buying an additional 741 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after buying an additional 2,935 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 4.8 %

Shares of EXTR opened at $13.23 on Tuesday. The business’s 50-day moving average price is $15.37 and its 200 day moving average price is $15.90. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $1.76 billion, a P/E ratio of -14.07, 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.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results 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%. Analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated 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 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 position. The sale 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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. 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. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. Finally, Lake Street Capital boosted their price target on shares of 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’s stock. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price 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.