Federated Hermes Inc. Lowers Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Federated Hermes Inc. lowered its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,211,957 shares of the technology company's stock after selling 167,509 shares during the period. Federated Hermes Inc. owned approximately 0.91% of Extreme Networks worth $20,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXTR. Quarry LP purchased a new stake in shares of Extreme Networks in the 3rd quarter worth approximately $26,000. Byrne Asset Management LLC bought a new position in shares of Extreme Networks during the fourth quarter valued at $30,000. Smartleaf Asset Management LLC raised its position in shares of Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after purchasing an additional 1,733 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after purchasing an additional 741 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after purchasing an additional 2,935 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

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Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 1,478,941 shares of the company's stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company's stock.

Extreme Networks Stock Performance

Extreme Networks stock traded up $0.37 during mid-day trading on Monday, reaching $11.88. 97,159 shares of the stock traded hands, compared to its average volume of 1,474,276. Extreme Networks, Inc. has a 12-month low of $10.10 and a 12-month high of $19.24. The business's 50-day moving average is $14.37 and its 200-day moving average is $15.64. 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 stock has a market capitalization of $1.58 billion, a PE ratio of -12.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued 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 return on equity of 110.86% and a negative net margin of 11.98%. As a group, sell-side analysts predict 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 Ratings Changes

Several research analysts have recently issued reports on EXTR shares. Lake Street Capital upped 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. StockNews.com upgraded Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, January 30th. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.