Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 148,000 shares of the technology company’s stock after selling 1,000 shares during the period. D.A. Davidson & CO. owned approximately 0.11% of Extreme Networks worth $2,478,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Extreme Networks by 1.0% in the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after acquiring an additional 49,905 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Extreme Networks by 318.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after acquiring an additional 3,399,288 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Extreme Networks by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after acquiring an additional 8,169 shares during the period. Portolan Capital Management LLC lifted its stake in shares of Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after purchasing an additional 700,724 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Extreme Networks by 57.5% in 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. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

EXTR has been the subject of several recent analyst reports. Craig Hallum raised their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. B. Riley raised their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Lake Street Capital raised their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.30.

Extreme Networks Stock Performance

Shares of EXTR opened at $15.22 on Friday. 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 market cap of $2.02 billion, a P/E ratio of -16.19, a PEG ratio of 3.10 and a beta of 1.73. The company has a 50-day moving average of $16.70 and a two-hundred day moving average of $15.82. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) 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, research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically 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.