Focus Partners Wealth Increases Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Focus Partners Wealth grew its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,201 shares of the technology company's stock after purchasing an additional 59,060 shares during the quarter. Focus Partners Wealth owned approximately 0.20% of Extreme Networks worth $4,339,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new position in shares of Extreme Networks in the 4th quarter valued at about $30,000. Sterling Capital Management LLC raised its stake in shares of Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock worth $32,000 after buying an additional 1,665 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Extreme Networks by 385.1% during 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. Quarry LP grew its stake in Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after acquiring an additional 719 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after acquiring an additional 741 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the sale, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. This represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.70% of the company's stock.

Extreme Networks Stock Down 0.9%

EXTR stock traded down $0.15 during midday trading on Tuesday, reaching $16.11. 130,391 shares of the company were exchanged, compared to its average volume of 1,374,223. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -17.13, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. 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 1-year low of $10.10 and a 1-year high of $19.24. The stock's 50-day simple moving average is $13.47 and its 200 day simple moving average is $15.40.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The company's revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. On average, equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EXTR shares. Rosenblatt Securities reiterated a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a research note on Thursday, May 1st. UBS Group dropped their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. StockNews.com raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Finally, Lake Street Capital reduced their target price on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Extreme Networks 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.