BNP Paribas Financial Markets Has $912,000 Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

BNP Paribas Financial Markets cut its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EXTR. Byrne Asset Management LLC acquired a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $30,000. Sterling Capital Management LLC lifted its position in Extreme Networks by 603.3% during the 4th 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 in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after acquiring an additional 1,733 shares in the last quarter. Quarry LP grew its stake in Extreme Networks by 42.1% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after purchasing an additional 719 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Extreme Networks by 31.4% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Insider Buying and Selling at Extreme Networks

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 transaction, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at $20,742,171.87. This trade represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company's stock.

Extreme Networks Price Performance

EXTR traded up $0.50 during midday trading on Tuesday, reaching $15.89. 141,444 shares of the company's stock were exchanged, compared to its average volume of 1,368,697. The business has a 50-day simple moving average of $13.57 and a two-hundred day simple moving average of $15.38. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -16.89, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24.

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. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The firm had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The company's revenue was up 34.8% on a year-over-year basis. As a group, research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

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

Wall Street Analyst Weigh In

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

About Extreme Networks

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.