Trigran Investments Inc. Has $39.91 Million Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Trigran Investments Inc. boosted its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,384,325 shares of the technology company's stock after buying an additional 94,508 shares during the quarter. Extreme Networks makes up about 4.6% of Trigran Investments Inc.'s investment portfolio, making the stock its 11th largest position. Trigran Investments Inc. owned 1.80% of Extreme Networks worth $39,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Byrne Asset Management LLC bought a new position in shares of Extreme Networks during the fourth quarter valued at $30,000. Sterling Capital Management LLC boosted its position in Extreme Networks by 603.3% in the fourth 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in Extreme Networks by 385.1% in the fourth 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. grew its stake in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after buying an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Extreme Networks by 146.2% during the fourth 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. 91.05% of the stock is currently owned by institutional investors.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Monday, February 3rd. The shares were 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 owns 1,478,941 shares of the company's stock, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

Extreme Networks Trading Up 1.6 %

Shares of NASDAQ EXTR traded up $0.19 during midday trading on Friday, hitting $12.54. The stock had a trading volume of 252,571 shares, compared to its average volume of 1,459,004. The firm has a market cap of $1.67 billion, a P/E ratio of -13.33, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. 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 company's 50-day simple moving average is $13.62 and its 200 day simple moving average is $15.42.

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

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

Analyst Ratings Changes

Several brokerages have recently commented on EXTR. Lake Street Capital increased their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Rosenblatt Securities decreased their target price on Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. One research analyst has 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, the company presently has an average rating of "Moderate Buy" and an average target price of $19.50.

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.