JPMorgan Chase & Co. Buys 908,336 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

JPMorgan Chase & Co. grew its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 312.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,199,399 shares of the technology company's stock after acquiring an additional 908,336 shares during the period. JPMorgan Chase & Co. owned about 0.90% of Extreme Networks worth $20,078,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of 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. State Street Corp boosted its position in Extreme Networks by 1.0% during the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company's stock valued at $77,164,000 after acquiring an additional 49,905 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Extreme Networks by 11.4% during the 4th quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after acquiring an additional 290,184 shares during the period. William Blair Investment Management LLC raised its position in shares of Extreme Networks by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,141,387 shares of the technology company's stock worth $35,847,000 after acquiring an additional 52,621 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Extreme Networks by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,500 shares of the technology company's stock valued at $20,448,000 after purchasing an additional 61,867 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

EXTR has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $22.00 price objective on shares of Extreme Networks in a research report on Friday, February 7th. Lake Street Capital boosted their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average price target of $20.30.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded down $0.19 during mid-day trading on Wednesday, reaching $11.57. The company's stock had a trading volume of 57,978 shares, compared to its average volume of 1,464,518. The stock has a fifty day moving average of $14.22 and a two-hundred day moving average of $15.59. 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 52 week low of $10.10 and a 52 week high of $19.24. The firm has a market capitalization of $1.54 billion, a PE ratio of -12.34, a P/E/G ratio of 3.06 and a beta of 1.57.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management 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.