Amundi Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Amundi grew its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 82.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,308 shares of the technology company's stock after purchasing an additional 39,819 shares during the quarter. Amundi owned about 0.07% of Extreme Networks worth $1,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Extreme Networks during the 3rd quarter worth approximately $26,000. Byrne Asset Management LLC purchased a new position in Extreme Networks during the fourth quarter valued at $30,000. Smartleaf Asset Management LLC boosted its holdings in shares of Extreme Networks by 385.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after buying an additional 1,733 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after buying an additional 741 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock worth $75,000 after buying an additional 1,745 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company's stock.

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Extreme Networks Stock Performance

NASDAQ:EXTR traded down $0.11 during trading hours on Friday, reaching $14.89. The company had a trading volume of 1,598,738 shares, compared to its average volume of 1,409,858. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -15.84, a PEG ratio of 3.06 and a beta of 1.72. 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 firm's 50 day moving average price is $15.73 and its 200-day moving average price is $15.86. Extreme Networks, Inc. has a 52 week low of $10.50 and a 52 week high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 EPS 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, analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. 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 research note on Thursday, January 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. 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 assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.

Extreme Networks 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.