Mackenzie Financial Corp Purchases 29,214 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Mackenzie Financial Corp increased its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 123.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,804 shares of the technology company's stock after buying an additional 29,214 shares during the quarter. Mackenzie Financial Corp's holdings in Extreme Networks were worth $884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after purchasing an additional 690,262 shares during the period. Geode Capital Management LLC raised its position in 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 during the period. American Century Companies Inc. raised its position in Extreme Networks by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock valued at $47,494,000 after purchasing an additional 290,184 shares during the period. Trigran Investments Inc. raised its position in Extreme Networks by 4.1% in the fourth quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock valued at $39,914,000 after purchasing an additional 94,508 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in 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 during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Shares of Extreme Networks stock traded up $0.14 during midday trading on Thursday, reaching $16.36. The company had a trading volume of 1,188,282 shares, compared to its average volume of 1,357,052. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -17.40, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. The stock has a fifty day simple moving average of $13.81 and a 200 day simple moving average of $15.39. 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 issued 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. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The business had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same quarter last year, the business posted ($0.19) earnings per share. Extreme Networks's revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, equities research analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

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

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 value 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 approximately $20,742,171.87. This represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. UBS Group decreased 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. Rosenblatt Securities restated 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 cut their price target on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a report on Thursday, May 15th. Two 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.58.

Extreme Networks 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.