Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 397,835.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,276,191 shares of the technology company's stock after acquiring an additional 2,275,619 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.71% of Extreme Networks worth $38,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Byrne Asset Management LLC purchased a new stake in Extreme Networks in the 4th quarter valued at approximately $30,000. Sterling Capital Management LLC increased its stake 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 valued at $32,000 after purchasing an additional 1,665 shares during the last quarter. Orion Capital Management LLC purchased a new position in Extreme Networks during the fourth quarter worth about $33,000. Smartleaf Asset Management LLC boosted its stake in Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after buying an additional 1,733 shares during the last quarter. Finally, Quarry LP grew its holdings in Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after buying an additional 719 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.

Analyst Upgrades and Downgrades

EXTR has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, May 15th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 price target on shares of Extreme Networks in a report on Thursday, May 1st. UBS Group dropped their price objective on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Lake Street Capital reduced their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of "Moderate Buy" and an average target price of $18.58.

Extreme Networks Stock Down 0.4%

NASDAQ:EXTR traded down $0.06 during mid-day trading on Wednesday, hitting $16.17. The company had a trading volume of 265,527 shares, compared to its average volume of 1,370,317. The business has a fifty day simple moving average of $13.60 and a 200-day simple moving average of $15.39. 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, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.18, a PEG ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The firm 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%. The firm's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. Equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total value of $490,504.25. Following the completion of the transaction, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at $20,742,171.87. This represents a 2.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by corporate 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.