Fox Run Management L.L.C. Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Fox Run Management L.L.C. purchased a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 96,511 shares of the technology company’s stock, valued at approximately $1,616,000. Fox Run Management L.L.C. owned about 0.07% of Extreme Networks at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EXTR. Quarry LP acquired a new position in Extreme Networks in the 3rd quarter valued at approximately $26,000. Byrne Asset Management LLC bought a new stake in shares of Extreme Networks in the fourth quarter worth $30,000. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 1,733 shares during the period. Pacer Advisors Inc. raised its position in Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after purchasing an additional 741 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after buying an additional 1,745 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Down 0.7 %

Shares of Extreme Networks stock opened at $14.89 on Friday. The stock has a market capitalization of $1.98 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a 52 week low of $10.50 and a 52 week high of $19.24. The stock has a 50 day moving average price of $15.69 and a two-hundred day moving average price of $15.85. 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) 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%. As a group, equities analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EXTR shares. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. Finally, Lake Street Capital lifted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

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.