Dimensional Fund Advisors LP Reduces Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Dimensional Fund Advisors LP reduced its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,862,012 shares of the technology company’s stock after selling 281,128 shares during the period. Dimensional Fund Advisors LP’s holdings in Extreme Networks were worth $31,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new position in shares of Extreme Networks during the fourth quarter valued at about $30,000. Sterling Capital Management LLC increased its stake in Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,665 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Extreme Networks by 385.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after buying an additional 1,733 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after buying an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after buying an additional 2,935 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $13.73, for a total value of $490,504.25. Following the completion of the transaction, the chief executive officer now owns 1,510,719 shares of the company’s stock, valued at approximately $20,742,171.87. This represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $18.00 target price on shares of Extreme Networks in a research report on Thursday, May 1st. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Wednesday, April 30th. UBS Group dropped their target price on Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Lake Street Capital reduced their price target 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, May 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $18.58.

Extreme Networks Stock Up 0.1 %

Shares of EXTR stock opened at $14.01 on Tuesday. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The stock has a market cap of $1.86 billion, a P/E ratio of -14.90, a P/E/G ratio of 3.06 and a beta of 1.57. The stock has a 50 day moving average of $13.32 and a 200 day moving average of $15.34. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results 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 net margin of 11.98% and a negative return on equity of 110.86%. The firm had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same period in the previous year, the firm earned ($0.19) EPS. The business’s quarterly revenue was up 34.8% on a year-over-year basis. As a group, sell-side analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.