Renaissance Technologies LLC Sells 38,400 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Renaissance Technologies LLC decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,495,601 shares of the technology company's stock after selling 38,400 shares during the quarter. Renaissance Technologies LLC owned 1.13% of Extreme Networks worth $25,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Byrne Asset Management LLC acquired a new position in Extreme Networks during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its holdings in shares of Extreme Networks by 385.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after buying an additional 1,733 shares during the period. Pacer Advisors Inc. lifted its position in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after acquiring an additional 741 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock worth $83,000 after buying an additional 2,935 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of Extreme Networks in the 4th quarter valued at about $98,000. 91.05% of the stock is owned by institutional investors.

Extreme Networks Stock Down 0.8 %

NASDAQ:EXTR traded down $0.10 on Tuesday, hitting $11.75. The stock had a trading volume of 677,062 shares, compared to its average volume of 1,470,053. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The firm's fifty day simple moving average is $14.22 and its two-hundred day simple moving average is $15.59. 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 stock has a market cap of $1.56 billion, a P/E ratio of -12.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57.

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Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 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%. Analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks announced that its board has approved a share 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 often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EXTR shares. StockNews.com upgraded Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Lake Street Capital upped their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Rosenblatt Securities restated a "buy" rating and issued 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $20.30.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were 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 owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company's stock.

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.