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

Nuveen Asset Management LLC grew its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 55.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,253,467 shares of the technology company's stock after buying an additional 445,824 shares during the quarter. Nuveen Asset Management LLC owned 0.94% of Extreme Networks worth $20,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of EXTR. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of 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 buying an additional 2,275,619 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Extreme Networks in the fourth quarter valued at $16,573,000. JPMorgan Chase & Co. grew its stake in shares of Extreme Networks by 312.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after buying an additional 908,336 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in shares of Extreme Networks in the fourth quarter valued at $14,229,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 buying an additional 690,262 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the business'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 directly owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. The trade was a 2.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company's stock.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded down $0.09 on Thursday, hitting $16.03. The stock had a trading volume of 149,308 shares, compared to its average volume of 1,367,070. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24. 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 stock has a market cap of $2.14 billion, a price-to-earnings ratio of -17.06, a P/E/G ratio of 3.06 and a beta of 1.67. The company's 50 day moving average price is $13.62 and its 200 day moving average price is $15.39.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating 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 business had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. During the same period in the previous year, the business earned ($0.19) EPS. The business's quarterly revenue was up 34.8% on a year-over-year basis. On average, research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current year.

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

Wall Street Analyst Weigh In

Several research firms recently commented on EXTR. UBS Group lowered 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. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Rosenblatt Securities reissued a "buy" rating and set a $18.00 target price on shares of Extreme Networks in a research note on Thursday, May 1st. Finally, Lake Street Capital lowered their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.58.

About Extreme Networks

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.