Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 31.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,459 shares of the technology company’s stock after selling 25,294 shares during the quarter. BNP Paribas Financial Markets’ holdings in Extreme Networks were worth $912,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company’s stock valued at $299,965,000 after purchasing an additional 690,262 shares during the last quarter. Geode Capital Management LLC grew its holdings in Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company’s stock valued at $51,385,000 after buying an additional 49,888 shares during the period. American Century Companies Inc. increased its stake in shares of Extreme Networks by 11.4% during the 4th quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company’s stock valued at $47,494,000 after acquiring an additional 290,184 shares during the last quarter. Trigran Investments Inc. lifted its holdings in shares of Extreme Networks by 4.1% during the 4th quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company’s stock worth $39,914,000 after acquiring an additional 94,508 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company’s stock worth $38,103,000 after acquiring an additional 2,275,619 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Down 1.9%

Shares of EXTR opened at $15.90 on Thursday. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $19.24. The stock’s 50-day moving average is $13.54 and its two-hundred day moving average is $15.41. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market cap of $2.12 billion, a PE ratio of -16.91, a P/E/G ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The company’s revenue was up 34.8% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. Equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its board has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

EXTR has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. StockNews.com upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.00 target price on shares of Extreme Networks in a research report on Thursday, May 1st. Lake Street Capital reduced their target price on Extreme Networks from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, UBS Group dropped their price target on Extreme Networks from $16.50 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the sale, the chief executive officer now owns 1,510,719 shares in the company, valued at $20,742,171.87. This trade represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.