Two Sigma Investments LP Sells 83,145 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Two Sigma Investments LP lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,059 shares of the technology company's stock after selling 83,145 shares during the period. Two Sigma Investments LP owned about 0.39% of Extreme Networks worth $8,572,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Extreme Networks by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock valued at $361,000 after acquiring an additional 4,610 shares in the last quarter. Barclays PLC grew its stake in shares of Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after acquiring an additional 171,500 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth $2,599,000. Geode Capital Management LLC grew its stake in shares of Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock worth $51,385,000 after acquiring an additional 49,888 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Extreme Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after acquiring an additional 690,262 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on EXTR shares. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 target price on shares of Extreme Networks in a research note on Thursday, May 1st. Lake Street Capital reduced 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. UBS Group reduced their target price on shares of 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 upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Two equities research 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. According to data from MarketBeat, Extreme Networks has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Extreme Networks Stock Performance

EXTR traded down $0.11 during trading hours on Wednesday, hitting $16.12. The stock had a trading volume of 1,076,115 shares, compared to its average volume of 1,373,452. The company's fifty day simple moving average is $13.62 and its 200 day simple moving average is $15.39. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The stock has a market cap of $2.15 billion, a PE ratio of -17.15, a price-to-earnings-growth 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 (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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $280.32 million. During the same quarter last year, the firm posted ($0.19) EPS. The firm's revenue for the quarter was up 34.8% on a year-over-year basis. Equities analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Thursday, May 1st. The stock was 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 owns 1,510,719 shares of the company's stock, valued at $20,742,171.87. The trade was a 2.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.70% of the company's stock.

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.