Extreme Networks, Inc. (NASDAQ:EXTR) Holdings Trimmed by Two Sigma Advisers LP

Two Sigma Advisers LP decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,614 shares of the technology company's stock after selling 173,700 shares during the period. Two Sigma Advisers LP owned approximately 0.26% of Extreme Networks worth $5,752,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Extreme Networks by 397,835.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after acquiring an additional 2,275,619 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Extreme Networks during the fourth quarter worth $16,573,000. JPMorgan Chase & Co. lifted its position in shares of Extreme Networks by 312.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after purchasing an additional 908,336 shares in the last quarter. Penn Capital Management Company LLC purchased a new position in shares of Extreme Networks in the fourth quarter valued at $14,229,000. Finally, Vanguard Group Inc. grew its holdings in Extreme Networks by 4.0% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 sale, the chief executive officer now directly owns 1,510,719 shares in the company, valued at $20,742,171.87. This trade represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EXTR. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. UBS Group cut their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock 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. Lake Street Capital cut their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $18.00 target price on shares of Extreme Networks 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.58.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR traded down $0.09 on Thursday, reaching $16.03. 499,511 shares of the company's stock were exchanged, compared to its average volume of 1,368,579. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The business's 50-day moving average is $13.62 and its two-hundred day moving average is $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. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -17.07, a PEG ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued 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 company had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Extreme Networks's quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, equities research analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is 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.