Raymond James Financial Inc. Invests $8.29 Million in Extreme Networks, Inc. (NASDAQ:EXTR)

Raymond James Financial Inc. bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 495,253 shares of the technology company's stock, valued at approximately $8,291,000. Raymond James Financial Inc. owned 0.37% of Extreme Networks at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new position in shares of Extreme Networks in the 4th quarter valued at $30,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 purchasing an additional 1,733 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Extreme Networks by 31.4% in the 4th 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 during the period. Nisa Investment Advisors LLC increased its holdings in Extreme Networks by 146.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock worth $83,000 after acquiring an additional 2,935 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Extreme Networks in the 4th quarter worth $98,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EXTR shares. 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 report on Thursday, January 30th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Rosenblatt Securities cut their price target on shares of Extreme Networks from $22.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.50.

Extreme Networks Trading Up 4.6 %

Shares of EXTR stock traded up $0.58 during trading on Monday, hitting $13.07. 1,544,767 shares of the stock traded hands, compared to its average volume of 1,457,116. The firm has a market capitalization of $1.74 billion, a P/E ratio of -13.90, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. 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's fifty day moving average price is $13.48 and its 200-day moving average price is $15.39. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 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, research analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its board has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

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 Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, 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 at the SEC website. 3.70% of the stock is owned by insiders.

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.