Lyell Wealth Management LP Raises Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Lyell Wealth Management LP grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 568,991 shares of the technology company’s stock after purchasing an additional 12,975 shares during the period. Lyell Wealth Management LP owned approximately 0.43% of Extreme Networks worth $9,525,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in shares of Extreme Networks by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after buying an additional 717 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of 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 buying an additional 741 shares in the last quarter. Andina Capital Management LLC boosted its position in shares of Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after buying an additional 795 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Extreme Networks by 1.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company’s stock worth $1,070,000 after buying an additional 900 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Extreme Networks by 2.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after buying an additional 1,541 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EXTR shares. Lake Street Capital boosted their price objective on shares of 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 reiterated a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. B. Riley boosted their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Extreme Networks has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Activity

In related news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $549,807.75. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock valued at $713,608 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Extreme Networks Trading Down 0.2 %

Shares of EXTR stock opened at $16.35 on Wednesday. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $19.24. The firm has a 50-day moving average price of $16.86 and a 200 day moving average price of $15.77. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68.

Extreme Networks (NASDAQ:EXTR) last posted 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, equities research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its board has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Extreme Networks Company 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.