Sirios Capital Management L P Buys 76,770 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Sirios Capital Management L P increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 89.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,866 shares of the technology company's stock after acquiring an additional 76,770 shares during the period. Sirios Capital Management L P owned approximately 0.12% of Extreme Networks worth $2,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Extreme Networks by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 758,164 shares of the technology company's stock worth $12,692,000 after purchasing an additional 7,856 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Extreme Networks during the fourth quarter worth approximately $499,000. Hsbc Holdings PLC grew its position in Extreme Networks by 263.3% in the fourth quarter. Hsbc Holdings PLC now owns 93,005 shares of the technology company's stock worth $1,555,000 after buying an additional 67,405 shares during the last quarter. Trigran Investments Inc. increased its holdings in shares of Extreme Networks by 4.1% in the fourth quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock valued at $39,914,000 after buying an additional 94,508 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Extreme Networks by 3.6% during the 4th quarter. MetLife Investment Management LLC now owns 76,739 shares of the technology company's stock valued at $1,285,000 after acquiring an additional 2,672 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Rosenblatt Securities cut their price objective on Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Lake Street Capital raised their target price 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.50.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is currently owned by insiders.

Extreme Networks Stock Up 4.0 %

Shares of EXTR stock traded up $0.50 during trading on Monday, hitting $12.99. 796,132 shares of the company were exchanged, compared to its average volume of 1,454,493. The business's 50-day simple moving average is $13.54 and its 200 day simple moving average is $15.41. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -13.76, a P/E/G ratio of 3.06 and a beta of 1.57. 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 (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 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%. As a group, analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its Board of Directors has initiated 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.