990,000 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Acquired by LMR Partners LLP

LMR Partners LLP purchased a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 990,000 shares of the technology company's stock, valued at approximately $16,573,000. LMR Partners LLP owned about 0.75% of Extreme Networks as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of EXTR. Barclays PLC grew its position in Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock valued at $3,274,000 after buying an additional 171,500 shares in the last quarter. First Hawaiian Bank acquired a new stake in Extreme Networks in the 4th quarter valued at about $411,000. Mirador Capital Partners LP lifted its holdings in Extreme Networks by 0.5% in the 4th quarter. Mirador Capital Partners LP now owns 367,197 shares of the technology company's stock valued at $6,147,000 after acquiring an additional 1,873 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Extreme Networks by 146.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after acquiring an additional 2,935 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Extreme Networks in the 4th quarter valued at about $833,000. Institutional investors own 91.05% of the company's stock.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the transaction, the chief executive officer now directly owns 1,510,719 shares in the company, valued at $20,742,171.87. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of analyst reports. StockNews.com raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Lake Street Capital reduced their price target on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a report on Thursday, May 1st. Finally, UBS Group cut their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.58.

Extreme Networks Price Performance

Shares of EXTR traded down $0.12 during trading hours on Friday, hitting $16.22. 838,745 shares of the company were exchanged, compared to its average volume of 1,384,520. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -17.26, a P/E/G ratio of 3.06 and a beta of 1.67. The firm's fifty day moving average is $13.43 and its 200 day moving average is $15.39.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The business had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. During the same period in the prior year, the company earned ($0.19) EPS. Extreme Networks's revenue for the quarter was up 34.8% on a year-over-year basis. On average, equities analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.