AXQ Capital LP Purchases Shares of 10,495 Extreme Networks, Inc. (NASDAQ:EXTR)

AXQ Capital LP bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,495 shares of the technology company’s stock, valued at approximately $176,000.

Several other institutional investors also recently bought and sold shares of EXTR. Quarry LP purchased a new stake in shares of Extreme Networks during the third quarter worth about $26,000. Byrne Asset Management LLC purchased a new stake in shares of Extreme Networks during the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised 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 purchasing an additional 1,733 shares during the period. Pacer Advisors Inc. raised its holdings in 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 buying an additional 741 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of 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 during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Lake Street Capital upped their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.30.

Extreme Networks Stock Up 2.7 %

EXTR stock opened at $15.29 on Tuesday. Extreme Networks, Inc. has a one year low of $10.50 and a one year high of $19.24. The company has a 50 day moving average price of $15.66 and a two-hundred day moving average price of $15.88. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a market capitalization of $2.03 billion, a P/E ratio of -16.27, a PEG ratio of 3.06 and a beta of 1.72.

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 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, sell-side analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually 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.