BNP Paribas Financial Markets Sells 25,294 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

BNP Paribas Financial Markets lessened its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 31.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,459 shares of the technology company's stock after selling 25,294 shares during the period. BNP Paribas Financial Markets' holdings in Extreme Networks were worth $912,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EXTR. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock valued at $38,103,000 after purchasing an additional 2,275,619 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Extreme Networks by 312.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after purchasing an additional 908,336 shares during the period. Penn Capital Management Company LLC purchased a new position in Extreme Networks during the 4th quarter valued at about $14,229,000. Vanguard Group Inc. increased its position 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 period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Extreme Networks by 1,639.7% in the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock worth $10,474,000 after buying an additional 589,713 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Lake Street Capital decreased their target price on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $18.00 target price on shares of Extreme Networks in a research report on Thursday, May 1st. UBS Group decreased their target price on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, May 15th. Finally, Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.58.

Insider Activity

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

Extreme Networks Price Performance

EXTR stock traded up $0.84 during mid-day trading on Tuesday, hitting $16.23. 1,678,589 shares of the stock were exchanged, compared to its average volume of 1,374,641. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The business has a fifty day moving average price of $13.60 and a 200 day moving average price of $15.39. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $19.24. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -17.27, a PEG ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 110.86% and a negative net margin of 11.98%. The company had revenue of $284.51 million for the quarter, compared to analysts' expectations of $280.32 million. During the same period last year, the firm posted ($0.19) EPS. Extreme Networks's revenue for the quarter was up 34.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced that its board has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is 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.