Dimensional Fund Advisors LP Has $31.17 Million Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Dimensional Fund Advisors LP cut its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,862,012 shares of the technology company's stock after selling 281,128 shares during the quarter. Dimensional Fund Advisors LP owned 1.40% of Extreme Networks worth $31,170,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EXTR. Byrne Asset Management LLC bought a new position in Extreme Networks during the fourth quarter worth $30,000. Sterling Capital Management LLC lifted its stake 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 lifted 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 last quarter. Pacer Advisors Inc. lifted its stake in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after purchasing an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock worth $83,000 after purchasing an additional 2,935 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EXTR has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Wednesday, April 30th. Lake Street Capital dropped their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 target price on shares of Extreme Networks in a research report on Thursday, May 1st. Finally, UBS Group dropped 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.58.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 transaction, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at $20,742,171.87. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Stock Performance

Shares of EXTR traded down $0.02 during trading hours on Friday, reaching $14.80. 760,580 shares of the company's stock traded hands, compared to its average volume of 1,402,015. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -15.74, a P/E/G ratio of 3.06 and a beta of 1.67. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The business's fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $15.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 110.86% and a negative net margin of 11.98%. The company's quarterly revenue was up 34.8% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. Analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership 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.