Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Capital Fund Management S.A.

Capital Fund Management S.A. lowered its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 52.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 98,990 shares of the technology company’s stock after selling 110,330 shares during the quarter. Capital Fund Management S.A.’s holdings in Extreme Networks were worth $1,657,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Extreme Networks in the 4th quarter valued at $8,291,000. Bank of Montreal Can boosted its position in shares of Extreme Networks by 8.4% in the fourth quarter. Bank of Montreal Can now owns 18,071 shares of the technology company’s stock worth $303,000 after buying an additional 1,393 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Extreme Networks by 37.4% in the fourth quarter. Russell Investments Group Ltd. now owns 210,852 shares of the technology company’s stock valued at $3,530,000 after buying an additional 57,448 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Extreme Networks by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company’s stock valued at $361,000 after buying an additional 4,610 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Extreme Networks by 32.1% during the 4th quarter. Wells Fargo & Company MN now owns 86,521 shares of the technology company’s stock worth $1,448,000 after acquiring an additional 21,047 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Down 0.8 %

Shares of NASDAQ:EXTR opened at $11.75 on Wednesday. The firm has a market cap of $1.56 billion, a PE ratio of -12.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. The company has a fifty day simple moving average of $14.22 and a 200 day simple moving average of $15.59. 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, Inc. has a 12-month low of $10.10 and a 12-month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EXTR. Needham & Company LLC reaffirmed a “buy” rating and issued 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 boosted their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

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.