Extreme Networks, Inc. (NASDAQ:EXTR) Stock Position Reduced by Dimensional Fund Advisors LP

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

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after purchasing an additional 690,262 shares during the period. Geode Capital Management LLC grew its holdings in Extreme Networks by 1.7% in the 4th 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 during the period. American Century Companies Inc. increased its stake in shares of Extreme Networks by 11.4% during the 4th quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock valued at $47,494,000 after acquiring an additional 290,184 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Extreme Networks by 397,835.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after acquiring an additional 2,275,619 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Extreme Networks by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,141,387 shares of the technology company's stock worth $35,847,000 after acquiring an additional 52,621 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Lake Street Capital cut their price target 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, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a report on Wednesday, April 30th. UBS Group dropped their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $18.00 target price on shares of Extreme Networks in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Extreme Networks Stock Down 0.1 %

NASDAQ:EXTR traded down $0.02 during trading hours on Friday, hitting $14.80. The stock had a trading volume of 760,580 shares, compared to its average volume of 1,412,574. The company has a market cap of $1.97 billion, a PE ratio of -15.74, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. The business has a 50 day simple moving average of $13.28 and a two-hundred day simple moving average of $15.33. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $19.24. 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 released its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The business had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same period last year, the business earned ($0.19) EPS. The business's revenue was up 34.8% on a year-over-year basis. Analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the firm'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 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. 3.70% of the stock is owned by company insiders.

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.