American Century Companies Inc. Buys 290,184 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

American Century Companies Inc. raised its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 11.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,837,171 shares of the technology company’s stock after acquiring an additional 290,184 shares during the quarter. American Century Companies Inc.’s holdings in Extreme Networks were worth $47,494,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EXTR. Quantbot Technologies LP bought a new stake in shares of Extreme Networks in the 4th quarter valued at about $230,000. Intech Investment Management LLC increased its position in Extreme Networks by 104.4% during the fourth quarter. Intech Investment Management LLC now owns 165,712 shares of the technology company’s stock worth $2,774,000 after buying an additional 84,625 shares during the last quarter. Brooktree Capital Management raised its stake in Extreme Networks by 0.7% in the fourth quarter. Brooktree Capital Management now owns 180,669 shares of the technology company’s stock valued at $3,024,000 after buying an additional 1,221 shares during the period. South Street Advisors LLC lifted its position in shares of Extreme Networks by 3.8% in the fourth quarter. South Street Advisors LLC now owns 319,610 shares of the technology company’s stock valued at $5,350,000 after buying an additional 11,620 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Extreme Networks by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 2,141,387 shares of the technology company’s stock worth $35,847,000 after acquiring an additional 52,621 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Buying and Selling at Extreme Networks

In related 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 value of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

NASDAQ:EXTR opened at $14.68 on Friday. Extreme Networks, Inc. has a 52 week low of $10.50 and a 52 week high of $19.24. 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 firm’s 50-day simple moving average is $15.52 and its 200 day simple moving average is $15.88. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -15.62, a P/E/G ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last announced its 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%. As a group, 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 approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EXTR shares. Lake Street Capital increased their price target on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. 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 company has an average rating of “Moderate Buy” and an average target price 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.