Susquehanna Fundamental Investments LLC Acquires Shares of 333,644 Extreme Networks, Inc. (NASDAQ:EXTR)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 333,644 shares of the technology company's stock, valued at approximately $5,585,000. Susquehanna Fundamental Investments LLC owned about 0.25% of Extreme Networks as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EXTR. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after buying an additional 2,275,619 shares during the period. JPMorgan Chase & Co. raised its stake in Extreme Networks by 312.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after acquiring an additional 908,336 shares during the period. Penn Capital Management Company LLC bought a new stake in Extreme Networks during the 4th quarter worth approximately $14,229,000. Vanguard Group Inc. lifted its holdings in Extreme Networks by 4.0% during the fourth 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. Finally, New York State Common Retirement Fund boosted its position in shares of Extreme Networks by 1,639.7% in the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock worth $10,474,000 after purchasing an additional 589,713 shares during the period. Institutional investors own 91.05% of the company's stock.

Analysts Set New Price Targets

EXTR has been the topic of a number of analyst reports. UBS Group lowered 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 note on Thursday. Needham & Company LLC restated a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Wednesday. Lake Street Capital cut their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $18.00 price target on shares of Extreme Networks in a report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the 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 completion of the transaction, 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 is accessible through this hyperlink. Corporate insiders own 3.70% of the company's stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR traded up $0.18 during mid-day trading on Friday, reaching $13.99. The stock had a trading volume of 1,529,792 shares, compared to its average volume of 1,456,602. The business's 50 day moving average price is $13.37 and its 200 day moving average price is $15.35. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The company has a market cap of $1.86 billion, a P/E ratio of -14.88, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $280.32 million. During the same period in the prior year, the firm earned ($0.19) EPS. The company's revenue for the quarter was up 34.8% on a year-over-year basis. Research analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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