Barclays PLC Grows Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Barclays PLC boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 326,711 shares of the technology company's stock after purchasing an additional 108,836 shares during the quarter. Barclays PLC owned approximately 0.25% of Extreme Networks worth $5,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Extreme Networks by 397,835.5% in the 4th 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Extreme Networks by 312.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after purchasing an additional 908,336 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 4.0% during 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. New York State Common Retirement Fund boosted its position in shares of Extreme Networks by 1,639.7% in the 4th quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock worth $10,474,000 after purchasing an additional 589,713 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Extreme Networks in the 4th quarter worth approximately $9,363,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company's stock.

Extreme Networks Stock Performance

NASDAQ EXTR traded up $0.25 during trading hours on Tuesday, hitting $13.32. The company's stock had a trading volume of 2,898,918 shares, compared to its average volume of 1,462,862. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $19.24. The company's 50 day simple moving average is $13.48 and its two-hundred day simple moving average is $15.39. 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 company has a market cap of $1.77 billion, a P/E ratio of -14.17, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data 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 net margin of 11.98% and a negative return on equity of 110.86%. As a group, sell-side analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal 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.

Analyst Upgrades and Downgrades

EXTR has been the topic of several analyst reports. Rosenblatt Securities dropped their target price on Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Lake Street Capital increased their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Extreme Networks currently has an average rating of "Moderate Buy" and an average price target of $19.50.

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.