Ameriprise Financial Inc. Sells 35,168 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Ameriprise Financial Inc. decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,048,715 shares of the technology company's stock after selling 35,168 shares during the period. Ameriprise Financial Inc. owned 0.79% of Extreme Networks worth $17,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock valued at $38,103,000 after buying an additional 2,275,619 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Extreme Networks by 312.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after acquiring an additional 908,336 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Extreme Networks during the 4th quarter valued at $14,229,000. Vanguard Group Inc. boosted its stake in Extreme Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after acquiring an additional 690,262 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Extreme Networks by 1,639.7% during the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock worth $10,474,000 after acquiring an additional 589,713 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Up 0.8%

Shares of EXTR traded up $0.12 on Thursday, reaching $16.02. The company's stock had a trading volume of 120,695 shares, compared to its average volume of 1,371,655. 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 twelve month low of $10.10 and a twelve month high of $19.24. The stock has a market capitalization of $2.13 billion, a PE ratio of -17.07, a PEG ratio of 3.06 and a beta of 1.67. The firm has a fifty day moving average of $13.54 and a 200-day moving average of $15.41.

Extreme Networks (NASDAQ:EXTR - Get Free Report) 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. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The firm had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same period in the previous year, the company posted ($0.19) EPS. The company's revenue for the quarter was up 34.8% on a year-over-year basis. Equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced that its Board of Directors has approved a share buyback program on Tuesday, February 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total value of $490,504.25. Following the transaction, the chief executive officer now owns 1,510,719 shares in the company, valued at $20,742,171.87. The trade was a 2.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EXTR has been the topic of several research reports. UBS Group dropped their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Lake Street Capital decreased their target price on 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 reiterated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, May 15th. StockNews.com raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Finally, Rosenblatt Securities restated a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.58.

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.