Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 49.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,422 shares of the technology company's stock after selling 37,034 shares during the quarter. Squarepoint Ops LLC's holdings in Extreme Networks were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its holdings in shares of Extreme Networks by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company's stock valued at $1,257,000 after acquiring an additional 717 shares during the last quarter. Quarry LP boosted its stake in shares of Extreme Networks by 42.1% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock worth $41,000 after acquiring an additional 719 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after purchasing an additional 741 shares in the last quarter. Ironwood Investment Management LLC lifted its position in Extreme Networks by 0.7% during the fourth quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company's stock valued at $1,804,000 after purchasing an additional 782 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Extreme Networks by 2.4% in the fourth quarter. Arizona State Retirement System now owns 38,299 shares of the technology company's stock worth $641,000 after buying an additional 881 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the sale, the chief executive officer now owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. This trade represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXTR has been the subject of a number of research reports. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Lake Street Capital decreased 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 issued a $18.00 price objective on shares of Extreme Networks in a research note on Thursday, May 1st. UBS Group decreased their target price 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.58.

Extreme Networks Trading Up 1.2%

EXTR stock traded up $0.19 during mid-day trading on Friday, reaching $16.55. 297,565 shares of the stock traded hands, compared to its average volume of 1,352,902. The business has a 50-day moving average price of $13.81 and a two-hundred day moving average price of $15.39. The stock has a market capitalization of $2.20 billion, a PE ratio of -17.62, a PEG ratio of 3.06 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24.

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

Extreme Networks declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.