Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC lowered its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 96.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,917 shares of the technology company's stock after selling 1,027,911 shares during the quarter. Portolan Capital Management LLC's holdings in Extreme Networks were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXTR. Byrne Asset Management LLC acquired a new stake in shares of Extreme Networks during the 4th quarter worth approximately $30,000. Sterling Capital Management LLC grew its position in Extreme Networks by 603.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock worth $32,000 after acquiring an additional 1,665 shares during the period. Smartleaf Asset Management LLC increased 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 acquiring an additional 1,733 shares during the last quarter. Pacer Advisors Inc. raised its position in Extreme Networks by 31.4% in the fourth 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 period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Extreme Networks by 146.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after purchasing an additional 2,935 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Stock Down 1.5 %

NASDAQ:EXTR traded down $0.17 during midday trading on Friday, reaching $11.38. The company had a trading volume of 1,114,959 shares, compared to its average volume of 1,467,838. Extreme Networks, Inc. has a 12-month low of $10.10 and a 12-month high of $19.24. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -12.11, a PEG 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. The stock's fifty day simple moving average is $13.97 and its 200-day simple moving average is $15.52.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now directly owns 1,478,941 shares in the company, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on EXTR shares. Rosenblatt Securities reissued a "buy" rating and set a $22.00 price objective on shares of Extreme Networks in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Lake Street Capital upped their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

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.