Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Voss Capital LP

Voss Capital LP decreased its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 33.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,775,000 shares of the technology company's stock after selling 908,807 shares during the quarter. Extreme Networks comprises about 2.2% of Voss Capital LP's holdings, making the stock its 17th largest position. Voss Capital LP owned 1.34% of Extreme Networks worth $29,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trigran Investments Inc. grew its holdings in shares of 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 in the last quarter. MetLife Investment Management LLC grew its stake in Extreme Networks by 3.6% in the 4th quarter. MetLife Investment Management LLC now owns 76,739 shares of the technology company's stock worth $1,285,000 after acquiring an additional 2,672 shares during the period. Guggenheim Capital LLC raised its holdings in Extreme Networks by 100.8% in the 4th quarter. Guggenheim Capital LLC now owns 28,042 shares of the technology company's stock valued at $469,000 after acquiring an additional 14,076 shares during the last quarter. XTX Topco Ltd acquired a new position in Extreme Networks in the 4th quarter valued at $527,000. Finally, Barclays PLC lifted its stake in shares of Extreme Networks by 50.0% during the 4th quarter. Barclays PLC now owns 326,711 shares of the technology company's stock worth $5,470,000 after purchasing an additional 108,836 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. This represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Extreme Networks Trading Up 1.1 %

Shares of NASDAQ EXTR traded up $0.14 during midday trading on Friday, hitting $12.49. The stock had a trading volume of 644,203 shares, compared to its average volume of 1,459,613. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $19.24. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -13.29, a PEG ratio of 3.06 and a beta of 1.57. The company has a fifty day moving average price of $13.54 and a 200 day moving average price of $15.41.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. On average, analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Rosenblatt Securities reduced their target price on Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Lake Street Capital boosted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

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.