Deutsche Bank AG Lowers Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Deutsche Bank AG cut its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 35.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,630,222 shares of the technology company's stock after selling 879,543 shares during the period. Deutsche Bank AG owned 1.23% of Extreme Networks worth $27,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings 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 valued at $299,965,000 after buying an additional 690,262 shares during the last quarter. Geode Capital Management LLC raised its stake 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 worth $51,385,000 after purchasing an additional 49,888 shares during the last quarter. American Century Companies Inc. boosted 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 valued at $47,494,000 after buying an additional 290,184 shares during the last quarter. Trigran Investments Inc. increased its holdings in Extreme Networks by 4.1% in the 4th quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock worth $39,914,000 after buying an additional 94,508 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of 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 during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on EXTR. 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 report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, May 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Extreme Networks in a report on Thursday, May 1st. Lake Street Capital decreased their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Finally, StockNews.com upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Extreme Networks presently has a consensus rating of "Moderate Buy" and an average target price of $18.58.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the 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 of the company's stock, valued at approximately $20,742,171.87. This represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.70% of the company's stock.

Extreme Networks Trading Down 0.9%

Shares of Extreme Networks stock traded down $0.15 during trading hours on Tuesday, hitting $16.11. The company's stock had a trading volume of 130,391 shares, compared to its average volume of 1,265,498. The stock has a market cap 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 debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The firm has a fifty day moving average of $13.47 and a 200-day moving average of $15.40.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same quarter last year, the firm posted ($0.19) earnings per share. Extreme Networks's revenue was up 34.8% compared to the same quarter last year. Research analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its board has approved a stock 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is 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.