Two Sigma Investments LP Has $8.57 Million Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Two Sigma Investments LP reduced its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 512,059 shares of the technology company's stock after selling 83,145 shares during the quarter. Two Sigma Investments LP owned 0.39% of Extreme Networks worth $8,572,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. ProShare Advisors LLC raised its position in Extreme Networks by 48.0% during the fourth quarter. ProShare Advisors LLC now owns 38,924 shares of the technology company's stock valued at $652,000 after buying an additional 12,622 shares during the period. Nuveen Asset Management LLC grew its stake in Extreme Networks by 55.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,253,467 shares of the technology company's stock valued at $20,983,000 after acquiring an additional 445,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Extreme Networks by 6.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,374 shares of the technology company's stock valued at $1,228,000 after purchasing an additional 4,382 shares during the period. LMR Partners LLP acquired a new position in shares of Extreme Networks in the 4th quarter valued at about $16,573,000. Finally, Focus Partners Wealth lifted its position in shares of Extreme Networks by 29.5% in the fourth quarter. Focus Partners Wealth now owns 259,201 shares of the technology company's stock worth $4,339,000 after purchasing an additional 59,060 shares in 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 topic of a number of research analyst reports. UBS Group lowered their price objective 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. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Lake Street Capital dropped their price target on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a research report on Thursday, May 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Two research 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 company's stock. According to MarketBeat, Extreme Networks has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. This represents a 2.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Extreme Networks Stock Down 1.4%

Shares of EXTR traded down $0.23 during mid-day trading on Friday, hitting $15.70. 132,470 shares of the company's stock were exchanged, compared to its average volume of 1,366,167. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -16.77, a P/E/G ratio of 3.06 and a beta of 1.67. The firm has a fifty day moving average of $13.64 and a two-hundred day moving average of $15.39. 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 twelve month low of $10.10 and a twelve month 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 earnings per share (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 during the quarter, compared to analysts' expectations of $280.32 million. During the same period in the prior year, the company posted ($0.19) earnings per share. Extreme Networks's revenue for the quarter was up 34.8% on a year-over-year basis. On average, sell-side analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are 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.