29,833 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 29,833 shares of the technology company's stock, valued at approximately $499,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in 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. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 49,888 shares in the last quarter. American Century Companies Inc. increased its position in Extreme Networks by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after purchasing an additional 290,184 shares during the last quarter. Trigran Investments Inc. raised its stake 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 valued at $39,914,000 after purchasing an additional 94,508 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted 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 valued at $38,103,000 after purchasing an additional 2,275,619 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Wednesday. Lake Street Capital reduced their target price on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price target on shares of Extreme Networks in a research note on Thursday. Finally, UBS Group reduced their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.58.

Extreme Networks Trading Up 1.7 %

Shares of NASDAQ EXTR traded up $0.24 during mid-day trading on Friday, reaching $14.05. The company had a trading volume of 417,921 shares, compared to its average volume of 1,452,410. Extreme Networks, Inc. has a 52 week low of $10.10 and a 52 week high of $19.24. The business's 50-day moving average is $13.37 and its 200-day moving average is $15.35. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -14.91, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. 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 (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. Extreme Networks's revenue was up 34.8% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share. Equities analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

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

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.