Marshall Wace LLP Lowers Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Marshall Wace LLP decreased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 70.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,645 shares of the technology company's stock after selling 164,660 shares during the quarter. Marshall Wace LLP owned 0.05% of Extreme Networks worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EXTR. Barclays PLC lifted its holdings in shares of 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 during the period. Essex Investment Management Co. LLC acquired a new position in Extreme Networks during the fourth quarter valued at approximately $2,599,000. Geode Capital Management LLC lifted its stake in Extreme Networks by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock worth $51,385,000 after purchasing an additional 49,888 shares during the last quarter. Vanguard Group Inc. increased its stake 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 valued at $299,965,000 after purchasing an additional 690,262 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Extreme Networks by 187.5% during the 4th quarter. Sei Investments Co. now owns 37,370 shares of the technology company's stock worth $626,000 after buying an additional 24,370 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Stock Up 0.8 %

EXTR traded up $0.12 during trading on Monday, hitting $14.11. 131,627 shares of the company's stock were exchanged, compared to its average volume of 1,424,067. 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 business's 50 day moving average is $13.34 and its two-hundred day moving average is $15.35. The stock has a market cap of $1.87 billion, a P/E ratio of -15.00, a PEG ratio of 3.06 and a beta of 1.57. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $280.32 million. During the same period last year, the company posted ($0.19) earnings per share. Extreme Networks's quarterly revenue was up 34.8% compared to the same quarter last year. As a group, equities analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company'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 transaction, the chief executive officer now directly owns 1,510,719 shares in the company, valued at $20,742,171.87. This represents a 2.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EXTR. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research note on Wednesday, April 30th. Lake Street Capital cut their price objective on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday. UBS Group reduced their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Rosenblatt Securities restated a "buy" rating and issued a $18.00 price target on shares of Extreme Networks in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average 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.