Susquehanna Fundamental Investments LLC Invests $5.59 Million in Extreme Networks, Inc. (NASDAQ:EXTR)

Susquehanna Fundamental Investments LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after acquiring an additional 690,262 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock valued at $51,385,000 after purchasing an additional 49,888 shares during the last quarter. American Century Companies Inc. increased its position in shares of Extreme Networks by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after buying an additional 290,184 shares during the period. Trigran Investments Inc. raised its stake in Extreme Networks by 4.1% during the fourth quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock worth $39,914,000 after buying an additional 94,508 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Extreme Networks by 397,835.5% during 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 last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Extreme Networks

In other Extreme Networks 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 owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. The trade was a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of recent analyst reports. UBS Group decreased their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a report on Thursday. Lake Street Capital decreased their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $18.00 price target on shares of Extreme Networks in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.58.

Extreme Networks Stock Up 1.3 %

Shares of Extreme Networks stock traded up $0.18 during trading hours on Friday, reaching $13.99. The company's stock had a trading volume of 1,529,792 shares, compared to its average volume of 1,429,028. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The stock's fifty day simple moving average is $13.34 and its two-hundred day simple moving average is $15.35. The company has a market capitalization of $1.86 billion, a P/E ratio of -14.88, a P/E/G ratio of 3.06 and a beta of 1.57. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 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 firm had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The company's quarterly revenue was up 34.8% compared to the same quarter last year. On average, research analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its board has approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

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.