Thompson Siegel & Walmsley LLC Decreases Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Thompson Siegel & Walmsley LLC lowered its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 308,329 shares of the technology company's stock after selling 88,819 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.23% of Extreme Networks worth $5,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EXTR. State of Alaska Department of Revenue grew its stake in shares of Extreme Networks by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company's stock worth $1,257,000 after purchasing an additional 717 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after acquiring an additional 741 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Extreme Networks by 2.4% in the 4th quarter. Arizona State Retirement System now owns 38,299 shares of the technology company's stock valued at $641,000 after acquiring an additional 881 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Extreme Networks by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company's stock worth $1,070,000 after acquiring an additional 900 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in Extreme Networks by 2.2% during the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company's stock worth $1,065,000 after purchasing an additional 1,541 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on EXTR shares. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Lake Street Capital increased their price target 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. Finally, Rosenblatt Securities reissued a "buy" rating and set a $22.00 price objective on shares of Extreme Networks in a research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.30.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded up $0.02 during trading hours on Tuesday, hitting $14.82. 793,720 shares of the company were exchanged, compared to its average volume of 1,420,659. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The business has a 50-day moving average of $15.87 and a 200-day moving average of $15.88. Extreme Networks, Inc. has a 1 year low of $10.50 and a 1 year high of $19.24. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -15.77, a P/E/G ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 110.86% and a negative net margin of 11.98%. As a group, analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Extreme Networks 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 transaction of $549,807.75. Following the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

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.