60,992 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,992 shares of the technology company's stock, valued at approximately $1,021,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new position in shares of Extreme Networks during the 4th quarter worth about $30,000. Sterling Capital Management LLC increased its position in Extreme Networks by 603.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock worth $32,000 after purchasing an additional 1,665 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after purchasing an additional 1,733 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after purchasing an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after buying an additional 2,935 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Stock Up 0.1 %

Shares of NASDAQ:EXTR traded up $0.01 on Tuesday, reaching $14.02. The company had a trading volume of 226,731 shares, compared to its average volume of 1,424,520. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The stock has a 50-day moving average price of $13.32 and a 200 day moving average price of $15.34. The stock has a market capitalization of $1.87 billion, a P/E ratio of -14.92, a P/E/G ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted 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 company had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The business's revenue was up 34.8% on a year-over-year basis. On average, equities analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

EXTR has been the topic of several research reports. UBS Group cut their target price on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Lake Street Capital reduced their price objective on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $18.00 price target on shares of Extreme Networks in a report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a report on Wednesday, April 30th. Two 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on 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 sale, the chief executive officer now owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company's stock.

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.