Nuveen Asset Management LLC Raises Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Nuveen Asset Management LLC boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 55.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,253,467 shares of the technology company's stock after purchasing an additional 445,824 shares during the period. Nuveen Asset Management LLC owned about 0.94% of Extreme Networks worth $20,983,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Extreme Networks by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock worth $361,000 after buying an additional 4,610 shares during the period. Barclays PLC grew its holdings in Extreme Networks by 369.8% during 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 purchased a new position in Extreme Networks during the 4th quarter valued at about $2,599,000. Geode Capital Management LLC raised its holdings 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 valued at $51,385,000 after purchasing an additional 49,888 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position 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 purchasing an additional 690,262 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analyst Weigh In

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

Extreme Networks Stock Performance

Extreme Networks stock traded down $0.06 during mid-day trading on Wednesday, reaching $16.17. 486,149 shares of the company traded hands, compared to its average volume of 1,264,287. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.21, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The firm's fifty day moving average is $13.60 and its two-hundred day moving average is $15.39.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $284.51 million during the quarter, compared to analysts' expectations of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The firm's revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.

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.