Barrow Hanley Mewhinney & Strauss LLC Purchases 2,275,619 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 397,835.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,276,191 shares of the technology company’s stock after acquiring an additional 2,275,619 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 1.71% of Extreme Networks worth $38,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in shares of Extreme Networks by 369.8% during the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after purchasing an additional 171,500 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Extreme Networks during the 4th quarter worth approximately $2,599,000. Legato Capital Management LLC grew its holdings in Extreme Networks by 225.2% during the 4th quarter. Legato Capital Management LLC now owns 107,948 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 74,758 shares during the last quarter. Principal Financial Group Inc. increased its position in Extreme Networks by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company’s stock valued at $10,756,000 after acquiring an additional 26,853 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Extreme Networks during the fourth quarter valued at $8,291,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on 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 sale, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Stock Performance

EXTR stock opened at $13.90 on Monday. The firm has a market cap of $1.85 billion, a PE ratio of -14.79, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The stock has a 50-day moving average price of $15.45 and a 200-day moving average price of $15.91. Extreme Networks, Inc. has a 1-year low of $10.50 and a 1-year high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its 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 return on equity of 110.86% and a negative net margin of 11.98%. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXTR. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Lake Street Capital upped their price target on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

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.