Wells Fargo & Company MN Buys 21,047 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Wells Fargo & Company MN lifted its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,521 shares of the technology company's stock after buying an additional 21,047 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Extreme Networks worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC raised its holdings in Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Extreme Networks by 8.7% in the third quarter. SkyView Investment Advisors LLC now owns 101,439 shares of the technology company's stock worth $1,525,000 after purchasing an additional 8,131 shares during the period. Central Pacific Bank Trust Division acquired a new position in Extreme Networks in the fourth quarter valued at about $267,000. First Hawaiian Bank bought a new stake in Extreme Networks during the fourth quarter worth about $411,000. Finally, Mirador Capital Partners LP grew its stake in Extreme Networks by 0.5% during the fourth quarter. Mirador Capital Partners LP now owns 367,197 shares of the technology company's stock worth $6,147,000 after buying an additional 1,873 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Analyst Ratings Changes

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

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded up $0.04 during midday trading on Friday, reaching $13.85. 213,189 shares of the company were exchanged, compared to its average volume of 1,451,483. The stock's 50-day moving average price is $13.37 and its 200-day moving average price is $15.35. The stock has a market cap of $1.84 billion, a P/E ratio of -14.76, a PEG ratio of 3.06 and a beta of 1.57. 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 one year low of $10.10 and a one year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating 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 company had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. During the same quarter last year, the business posted ($0.19) EPS. Extreme Networks's revenue for the quarter was up 34.8% on a year-over-year basis. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the sale, the chief executive officer now directly owns 1,478,941 shares in the company, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.70% of the company's stock.

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.