D. E. Shaw & Co. Inc. Has $9.92 Million Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

D. E. Shaw & Co. Inc. trimmed its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 29.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 592,661 shares of the technology company's stock after selling 247,307 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.45% of Extreme Networks worth $9,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 690,262 shares during the last quarter. Geode Capital Management LLC increased its holdings in Extreme Networks by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock valued at $51,385,000 after buying an additional 49,888 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Extreme Networks by 11.4% in the 4th quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after acquiring an additional 290,184 shares during the period. Trigran Investments Inc. raised its holdings in Extreme Networks by 4.1% during the fourth quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock worth $39,914,000 after purchasing an additional 94,508 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Extreme Networks by 397,835.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after purchasing an additional 2,275,619 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EXTR has been the topic of a number of analyst reports. Rosenblatt Securities restated a "buy" rating and set a $18.00 target price on shares of Extreme Networks in a research report on Thursday, May 1st. UBS Group lowered 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. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, May 15th. StockNews.com upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Lake Street Capital lowered their price objective 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 research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.58.

Extreme Networks Price Performance

NASDAQ:EXTR traded down $0.15 during midday trading on Tuesday, hitting $16.11. 130,391 shares of the stock were exchanged, compared to its average volume of 1,374,223. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -17.13, a P/E/G ratio of 3.06 and a beta of 1.67. 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 one year low of $10.10 and a one year high of $19.24. The business has a 50-day moving average price of $13.47 and a two-hundred day moving average price of $15.40.

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 the consensus estimate of $280.32 million. During the same quarter in the previous year, the business earned ($0.19) EPS. The company's quarterly revenue was up 34.8% compared to the same quarter last year. Sell-side analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its board has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.