Villanova Investment Management Co LLC Has $1.43 Million Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Villanova Investment Management Co LLC lowered its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 85,425 shares of the technology company’s stock after selling 824 shares during the period. Villanova Investment Management Co LLC’s holdings in Extreme Networks were worth $1,430,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXTR. Quarry LP bought a new position in shares of Extreme Networks in the 3rd quarter valued at approximately $26,000. Byrne Asset Management LLC acquired a new position in Extreme Networks during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised 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 purchasing an additional 1,733 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after buying an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 2,935 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $13.23 on Tuesday. The firm has a market capitalization of $1.76 billion, a PE ratio of -14.07, a PEG ratio of 3.06 and a beta of 1.72. 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 1-year low of $10.50 and a 1-year high of $19.24. The business’s 50 day moving average is $15.37 and its 200-day moving average is $15.90.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share 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%. Sell-side analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its Board of Directors 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXTR. Rosenblatt Securities restated a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. Lake Street Capital raised their target price on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

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.