Tudor Investment Corp ET AL Trims Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Tudor Investment Corp ET AL trimmed its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 72.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,586 shares of the technology company's stock after selling 295,280 shares during the quarter. Tudor Investment Corp ET AL owned about 0.08% of Extreme Networks worth $1,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EXTR. Quarry LP grew its holdings in Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after buying an additional 719 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Extreme Networks during the fourth quarter worth about $1,021,000. Susquehanna Fundamental Investments LLC purchased a new position in Extreme Networks during the fourth quarter worth about $5,585,000. Penn Capital Management Company LLC purchased a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $14,229,000. Finally, Sirios Capital Management L P increased its holdings in shares of Extreme Networks by 89.2% during the 4th quarter. Sirios Capital Management L P now owns 162,866 shares of the technology company's stock worth $2,726,000 after buying an additional 76,770 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXTR. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Wednesday, April 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 target price on shares of Extreme Networks in a research note on Thursday, May 1st. UBS Group dropped their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Lake Street Capital decreased their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Extreme Networks Stock Down 0.1 %

Shares of NASDAQ EXTR traded down $0.02 during midday trading on Friday, hitting $14.80. The company's stock had a trading volume of 760,580 shares, compared to its average volume of 1,402,015. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -15.74, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. 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 1 year low of $10.10 and a 1 year high of $19.24. The business's fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $15.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $284.51 million during the quarter, compared to analysts' expectations of $280.32 million. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The firm's revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced that its board has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction 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. 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 the SEC website. 3.70% of the stock is owned by insiders.

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.