Extreme Networks, Inc. (NASDAQ:EXTR) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 312.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,199,399 shares of the technology company's stock after purchasing an additional 908,336 shares during the quarter. JPMorgan Chase & Co. owned 0.90% of Extreme Networks worth $20,078,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased 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 valued at $299,965,000 after buying an additional 690,262 shares in the last quarter. LPL Financial LLC raised its holdings in Extreme Networks by 24.1% in the 4th quarter. LPL Financial LLC now owns 34,016 shares of the technology company's stock valued at $569,000 after acquiring an additional 6,601 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Extreme Networks during the 4th quarter worth $1,616,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Extreme Networks during the fourth quarter worth $455,000. Finally, AXQ Capital LP purchased a new stake in shares of Extreme Networks in the fourth quarter valued at $176,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Stock Down 1.9 %

Shares of NASDAQ EXTR traded down $0.22 during trading on Tuesday, reaching $11.63. 277,568 shares of the stock were exchanged, compared to its average volume of 1,475,229. The business's 50-day moving average price is $14.29 and its 200 day moving average price is $15.62. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -12.37, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

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Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results 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, equities analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business's 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 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. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of Extreme Networks 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 report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. Finally, Lake Street Capital boosted their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

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.