Swiss National Bank Grows Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Swiss National Bank increased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 2.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 259,700 shares of the technology company’s stock after buying an additional 6,500 shares during the period. Swiss National Bank’s holdings in Extreme Networks were worth $4,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP purchased a new position in Extreme Networks during the third quarter valued at $26,000. Byrne Asset Management LLC bought a new position in shares of Extreme Networks during the fourth quarter valued at $30,000. Smartleaf Asset Management LLC raised its position 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 worth $37,000 after purchasing an additional 1,733 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Extreme Networks by 31.4% in 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 in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock valued at $83,000 after purchasing an additional 2,935 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 0.6 %

Shares of EXTR stock opened at $15.20 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a 12-month low of $10.50 and a 12-month high of $19.24. The stock has a market capitalization of $2.02 billion, a P/E ratio of -16.17, a P/E/G ratio of 3.06 and a beta of 1.72. The firm’s 50 day moving average is $15.62 and its 200 day moving average is $15.89.

Extreme Networks (NASDAQ:EXTR) last released 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 return on equity of 110.86% and a negative net margin of 11.98%. Research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling 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 shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

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

About Extreme Networks

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.