Alliancebernstein L.P. Sells 187,104 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Alliancebernstein L.P. trimmed its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,950,163 shares of the technology company's stock after selling 187,104 shares during the quarter. Alliancebernstein L.P. owned approximately 1.47% of Extreme Networks worth $32,646,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EXTR. Charles Schwab Investment Management Inc. increased its stake in shares of Extreme Networks by 0.7% during 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 purchasing an additional 8,169 shares during the last quarter. Quarry LP bought a new position in Extreme Networks during the third quarter worth about $26,000. State Street Corp increased its position in Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company's stock worth $77,164,000 after buying an additional 49,905 shares during the last quarter. Barclays PLC increased its position in Extreme Networks by 369.8% during the third quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after buying an additional 171,500 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in Extreme Networks by 8.7% in the third quarter. SkyView Investment Advisors LLC now owns 101,439 shares of the technology company's stock valued at $1,525,000 after buying an additional 8,131 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EXTR shares. Rosenblatt Securities reissued a "buy" rating and set a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. Lake Street Capital raised their target price 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 set a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $20.30.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded up $0.06 during trading on Friday, reaching $11.51. The company's stock had a trading volume of 685,652 shares, compared to its average volume of 1,480,816. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The business's 50-day moving average price is $14.37 and its 200-day moving average price is $15.64. Extreme Networks, Inc. has a 52 week low of $10.10 and a 52 week high of $19.24. The firm has a market cap of $1.53 billion, a PE ratio of -12.24, a P/E/G ratio of 3.06 and a beta of 1.57.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data 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 net margin of 11.98% and a negative return on equity of 110.86%. Equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the company's 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 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. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.

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.