Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 64.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,974 shares of the technology company’s stock after selling 45,867 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Extreme Networks were worth $418,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Byrne Asset Management LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth approximately $30,000. Sterling Capital Management LLC lifted its stake in Extreme Networks by 603.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after buying an additional 1,665 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Extreme Networks by 385.1% during 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 during the period. Pacer Advisors Inc. grew its position 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 worth $52,000 after acquiring an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased 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 period. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 1.1 %

Shares of EXTR stock opened at $12.49 on Monday. 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 cap of $1.66 billion, a PE ratio of -13.29, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. The business’s fifty day moving average is $13.54 and its 200-day moving average is $15.41. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate 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%. Equities analysts expect 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 approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction 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 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 trade represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Rosenblatt Securities dropped their price target on shares of Extreme Networks from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Lake Street Capital boosted their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

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.