Arrowstreet Capital Limited Partnership Invests $2.45 Million in Extreme Networks, Inc. (NASDAQ:EXTR)

Arrowstreet Capital Limited Partnership acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 146,183 shares of the technology company's stock, valued at approximately $2,447,000. Arrowstreet Capital Limited Partnership owned about 0.11% of Extreme Networks at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Extreme Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after buying an additional 690,262 shares in the last quarter. State Street Corp increased its stake in Extreme Networks by 1.0% in the third quarter. State Street Corp now owns 5,134,008 shares of the technology company's stock valued at $77,164,000 after acquiring an additional 49,905 shares during the last quarter. American Century Companies Inc. raised its position in Extreme Networks by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock valued at $47,494,000 after purchasing an additional 290,184 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Extreme Networks by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 2,141,387 shares of the technology company's stock worth $35,847,000 after purchasing an additional 52,621 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Extreme Networks by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,500 shares of the technology company's stock worth $20,448,000 after purchasing an additional 61,867 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on 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 in the company, valued at $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Extreme Networks Trading Down 0.8 %

Shares of NASDAQ EXTR traded down $0.10 during mid-day trading on Tuesday, hitting $11.75. The stock had a trading volume of 76,103 shares, compared to its average volume of 1,474,449. The business has a 50 day moving average price of $14.29 and a two-hundred day moving average price of $15.62. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year 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 has a market cap of $1.56 billion, a P/E ratio of -12.52, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. On average, 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 share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on EXTR shares. Rosenblatt Securities restated a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Lake Street Capital lifted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research report 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.30.

About Extreme Networks

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.