Royce & Associates LP Sells 7,268 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Royce & Associates LP lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 6.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,823 shares of the technology company’s stock after selling 7,268 shares during the period. Royce & Associates LP owned about 0.08% of Extreme Networks worth $1,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXTR. Portolan Capital Management LLC boosted its stake in shares of Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after acquiring an additional 700,724 shares during the last quarter. New York State Common Retirement Fund lifted its position in Extreme Networks by 1,639.7% during the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company’s stock valued at $10,474,000 after purchasing an additional 589,713 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Extreme Networks during the fourth quarter valued at $8,291,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Extreme Networks by 57.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock valued at $11,097,000 after purchasing an additional 269,459 shares during the period. Finally, Barclays PLC increased its position in Extreme Networks by 369.8% in the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock worth $3,274,000 after buying an additional 171,500 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 0.9 %

EXTR stock opened at $15.00 on Friday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -15.96, a PEG ratio of 3.06 and a beta of 1.72. 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 $10.50 and a 1-year high of $19.24. The business has a 50 day simple moving average of $15.73 and a two-hundred day simple moving average of $15.86.

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%. Research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now directly owns 1,478,941 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

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.