Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Algert Global LLC

Algert Global LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 109.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,443 shares of the technology company's stock after acquiring an additional 95,857 shares during the quarter. Algert Global LLC owned approximately 0.14% of Extreme Networks worth $3,071,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXTR. Byrne Asset Management LLC acquired a new stake in shares of Extreme Networks during the fourth quarter worth $30,000. Sterling Capital Management LLC grew its holdings in Extreme Networks by 603.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after buying an additional 1,665 shares during the period. Smartleaf Asset Management LLC grew its holdings 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 during the period. Quarry LP increased its stake in shares of Extreme Networks by 42.1% during 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 last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after acquiring an additional 741 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXTR has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price target on shares of Extreme Networks in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Wednesday, April 30th. Lake Street Capital dropped their price target on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, UBS Group reduced their price objective on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average price target of $18.58.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the transaction, the chief executive officer now owns 1,510,719 shares in the company, valued at $20,742,171.87. The trade was a 2.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company's stock.

Extreme Networks Trading Up 2.5 %

NASDAQ:EXTR opened at $14.55 on Thursday. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $19.24. The business's 50-day moving average is $13.28 and its two-hundred day moving average is $15.33. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a market capitalization of $1.94 billion, a PE ratio of -15.48, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67.

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

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

About Extreme Networks

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.

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