BNP Paribas Financial Markets Sells 172,177 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

BNP Paribas Financial Markets decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,896 shares of the technology company's stock after selling 172,177 shares during the period. BNP Paribas Financial Markets owned 0.17% of Extreme Networks worth $3,826,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Extreme Networks by 17.0% in the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company's stock valued at $312,191,000 after buying an additional 1,877,727 shares in the last quarter. FMR LLC increased its stake in Extreme Networks by 32.0% in the third quarter. FMR LLC now owns 4,142,648 shares of the technology company's stock valued at $100,294,000 after purchasing an additional 1,004,002 shares during the last quarter. Pacer Advisors Inc. lifted its position in Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company's stock worth $60,137,000 after buying an additional 3,407,064 shares during the period. Voss Capital LLC boosted its stake in Extreme Networks by 55.6% in the 4th quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company's stock worth $38,288,000 after buying an additional 775,500 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in Extreme Networks in the 3rd quarter valued at about $33,920,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EXTR. UBS Group lowered Extreme Networks from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Rosenblatt Securities raised shares of Extreme Networks from a "neutral" rating to a "buy" rating and lifted their price target for the company from $15.00 to $17.00 in a research report on Thursday, May 2nd. Craig Hallum upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $13.00 to $14.00 in a research note on Thursday, May 16th. TheStreet downgraded shares of Extreme Networks from a "b-" rating to a "c+" rating in a research note on Tuesday, February 20th. Finally, StockNews.com cut shares of Extreme Networks from a "buy" rating to a "hold" rating in a research report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Extreme Networks presently has an average rating of "Moderate Buy" and an average price target of $20.64.

Extreme Networks Price Performance

Shares of EXTR traded down $0.02 during mid-day trading on Wednesday, hitting $11.42. The company's stock had a trading volume of 1,091,659 shares, compared to its average volume of 2,186,250. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.61. The firm has a 50-day moving average price of $11.25 and a 200 day moving average price of $13.96. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $32.73. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -163.14, a PEG ratio of 8.54 and a beta of 1.88.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.06). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The company had revenue of $211.04 million for the quarter, compared to analyst estimates of $207.80 million. On average, research analysts predict that Extreme Networks, Inc. will post 0.08 EPS for the current fiscal year.

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.