Kovack Advisors Inc. Cuts Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Kovack Advisors Inc. trimmed its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,840 shares of the technology company’s stock after selling 1,350 shares during the period. Kovack Advisors Inc.’s holdings in Extreme Networks were worth $349,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Extreme Networks during the 3rd quarter valued at $26,000. Byrne Asset Management LLC acquired a new position in shares of Extreme Networks during the fourth quarter worth about $30,000. Pacer Advisors Inc. lifted 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 worth $52,000 after purchasing an additional 741 shares in the last quarter. KBC Group NV boosted its position in shares of Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after buying an additional 1,745 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Extreme Networks by 146.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock valued at $83,000 after buying an additional 2,935 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXTR has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. Lake Street Capital raised their price target 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. Finally, StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

Extreme Networks Stock Up 0.2 %

Shares of NASDAQ:EXTR opened at $15.45 on Friday. Extreme Networks, Inc. has a 12-month low of $10.50 and a 12-month high of $19.24. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The firm has a market cap of $2.05 billion, a PE ratio of -16.44, a price-to-earnings-growth ratio of 3.06 and a beta of 1.73. The company has a fifty day simple moving average of $16.44 and a 200 day simple moving average of $15.89.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share 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%. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are 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.