Lido Advisors LLC Buys 3,585 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Lido Advisors LLC raised its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 25.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,893 shares of the technology company’s stock after acquiring an additional 3,585 shares during the period. Lido Advisors LLC’s holdings in Extreme Networks were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp grew its holdings in Extreme Networks by 15.6% during the 4th quarter. Northern Trust Corp now owns 1,482,113 shares of the technology company’s stock valued at $24,811,000 after purchasing an additional 200,193 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Extreme Networks by 7.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 69,273 shares of the technology company’s stock valued at $1,160,000 after buying an additional 4,826 shares during the last quarter. Quarry LP raised its holdings in shares of Extreme Networks by 42.1% in the fourth quarter. Quarry LP now owns 2,426 shares of the technology company’s stock worth $41,000 after buying an additional 719 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Extreme Networks during the 4th quarter worth approximately $1,021,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Extreme Networks in the 4th quarter valued at $5,585,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Up 0.1 %

NASDAQ:EXTR opened at $14.01 on Tuesday. The firm has a 50-day simple moving average of $13.32 and a 200-day simple moving average of $15.34. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24. The firm has a market cap of $1.86 billion, a P/E ratio of -14.90, a P/E/G ratio of 3.06 and a beta of 1.57. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. Extreme Networks’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Equities analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the sale, the chief executive officer now directly owns 1,510,719 shares of the company’s stock, valued at approximately $20,742,171.87. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXTR. Rosenblatt Securities reissued a “buy” rating and set a $18.00 target price on shares of Extreme Networks in a research note on Thursday, May 1st. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Wednesday, April 30th. UBS Group reduced their target price on shares of Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Lake Street Capital lowered their price target on Extreme Networks from $16.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $18.58.

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.