Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. reduced its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 25.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the technology company's stock after selling 26,979 shares during the period. Icon Advisers Inc. Co. owned about 0.06% of Extreme Networks worth $1,339,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EXTR. Barrow Hanley Mewhinney & Strauss LLC lifted 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 valued at $38,103,000 after purchasing an additional 2,275,619 shares during the period. JPMorgan Chase & Co. increased its holdings in Extreme Networks by 312.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after buying an additional 908,336 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after acquiring an additional 690,262 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Extreme Networks by 1,639.7% during 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 acquiring an additional 589,713 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Extreme Networks in the 4th quarter valued at about $9,363,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXTR. Lake Street Capital increased their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and set a $22.00 target price on shares of Extreme Networks in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.30.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction dated 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 directly owns 1,478,941 shares in the company, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Extreme Networks Price Performance

EXTR traded down $0.17 on Friday, hitting $11.38. 1,114,959 shares of the company's stock were exchanged, compared to its average volume of 1,468,475. The firm has a 50-day moving average price of $13.97 and a 200-day moving average price of $15.51. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -12.11, a P/E/G ratio of 3.06 and a beta of 1.57. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24.

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

Extreme Networks declared that its board has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

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.