1 week Ago By ABMN Staff
Norges Bank bought a new stake in shares of Extreme Networks, Inc. ( NASDAQ:EXTR – Free Report ) in the 4th quarter, Holdings Channel.com reports.
The fund bought 559,304 shares of the technology company’s stock, valued at approximately $9,363,000. A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXTR. Quarry LP purchased a new position in shares of Extreme Networks during the 3rd quarter worth approximately $26,000.
Byrne Asset Management LLC purchased a new position in Extreme Networks during the fourth quarter worth $30,000. Smartleaf Asset Management LLC lifted its position in shares of 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 acquiring an additional 1,733 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Extreme Networks by 31.
4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after acquiring an additional 741 shares during the last quarter.
Finally, Nisa Investment Advisors LLC increased 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 worth $83,000 after purchasing an additional 2,935 shares in the last quarter.
Institutional investors and hedge funds own 91.05% of the company’s stock. Extreme Networks Stock Down 2.
3 % Shares of NASDAQ EXTR opened at $10.84 on Wednesday. The company has a quick ratio of 0.
68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.
The stock has a market capitalization of $1.44 billion, a PE ratio of -11.53, a P/E/G ratio of 3.
06 and a beta of 1.57. The firm has a fifty day moving average of $14.
66 and a 200-day moving average of $15.73. Extreme Networks, Inc.
has a 52-week low of $10.10 and a 52-week high of $19.24.
Extreme Networks declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 9.
2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued. Insiders Place Their Bets In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink . 3.
70% of the stock is owned by insiders. Analyst Ratings Changes A number of research firms have issued reports on EXTR. Lake Street Capital upped their target price on shares of Extreme Networks from $15.
00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.
com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th.
Finally, Rosenblatt Securities restated a “buy” rating and set a $22.00 price objective on shares of Extreme Networks in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company.
According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30. Read Our Latest Stock Report on EXTR Extreme Networks Company Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding EXTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extreme Networks, Inc.
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