Horrell Capital Management Inc. Decreases Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Horrell Capital Management Inc. lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 33.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 305,000 shares of the technology company's stock after selling 155,000 shares during the period. Extreme Networks comprises approximately 1.5% of Horrell Capital Management Inc.'s holdings, making the stock its 23rd biggest position. Horrell Capital Management Inc. owned approximately 0.23% of Extreme Networks worth $5,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Portolan Capital Management LLC raised its position in Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after acquiring an additional 700,724 shares during the period. Vanguard Group Inc. raised its holdings in Extreme Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after purchasing an additional 690,262 shares during the period. New York State Common Retirement Fund lifted its position in Extreme Networks by 1,639.7% during the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock valued at $10,474,000 after purchasing an additional 589,713 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Extreme Networks during the fourth quarter valued at about $8,291,000. Finally, American Century Companies Inc. grew its holdings in Extreme Networks by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock valued at $47,494,000 after purchasing an additional 290,184 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

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Analyst Upgrades and Downgrades

EXTR has been the topic of a number of analyst reports. Lake Street Capital lifted their price objective on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. One 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.30.

Extreme Networks Price Performance

Shares of Extreme Networks stock traded down $0.78 on Friday, hitting $13.90. 1,099,178 shares of the company traded hands, compared to its average volume of 1,462,171. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The business has a 50-day simple moving average of $15.45 and a 200 day simple moving average of $15.88. Extreme Networks, Inc. has a 52 week low of $10.50 and a 52 week high of $19.24. The stock has a market capitalization of $1.85 billion, a P/E ratio of -14.79, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results 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%. Research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company's stock.

Extreme Networks Company 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.