UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.98 Million Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 297,225 shares of the technology company's stock after purchasing an additional 57,810 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Extreme Networks worth $4,976,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 last quarter. Geode Capital Management LLC grew its holdings 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 valued at $51,385,000 after purchasing an additional 49,888 shares in the last quarter. American Century Companies Inc. boosted its stake in Extreme Networks by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after buying an additional 290,184 shares during the period. Trigran Investments Inc. lifted its position in shares of Extreme Networks by 4.1% during the fourth quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock worth $39,914,000 after purchasing an additional 94,508 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position 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. Hedge funds and other institutional investors own 91.05% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 1,510,719 shares of the company's stock, valued at $20,742,171.87. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company's stock.

Extreme Networks Stock Performance

NASDAQ:EXTR traded up $0.14 during mid-day trading on Thursday, reaching $16.36. 1,188,282 shares of the stock were exchanged, compared to its average volume of 1,358,579. The company has a 50 day simple moving average of $13.75 and a 200-day simple moving average of $15.38. The stock has a market capitalization of $2.18 billion, a P/E ratio of -17.40, a P/E/G ratio of 3.06 and a beta of 1.67. The company has a quick ratio of 0.68, a current ratio of 0.93 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.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The company's revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. Analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs 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.