Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Trexquant Investment LP

Trexquant Investment LP raised its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 54.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 498,432 shares of the technology company's stock after acquiring an additional 175,082 shares during the quarter. Trexquant Investment LP owned approximately 0.38% of Extreme Networks worth $8,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Extreme Networks by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock worth $51,385,000 after acquiring an additional 49,888 shares in the last quarter. Franklin Resources Inc. increased its stake in Extreme Networks by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 550,036 shares of the technology company's stock valued at $9,208,000 after purchasing an additional 6,616 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Extreme Networks by 397,835.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after purchasing an additional 2,275,619 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Extreme Networks during the 4th quarter worth approximately $2,447,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Extreme Networks in the 4th quarter valued at $98,000. Institutional investors and hedge funds own 91.05% of the company's stock.

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Wall Street Analysts Forecast Growth

EXTR has been the subject of a number of research reports. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a research report on Friday, February 7th. 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. StockNews.com upgraded Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Finally, Lake Street Capital lifted 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Extreme Networks has a consensus rating of "Moderate Buy" and an average price target of $20.30.

Extreme Networks Stock Performance

Shares of EXTR traded up $1.44 during mid-day trading on Wednesday, hitting $12.28. 2,260,552 shares of the company's stock were exchanged, compared to its average volume of 1,483,892. 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. The business's 50 day moving average is $14.52 and its two-hundred day moving average is $15.68. The firm has a market capitalization of $1.63 billion, a P/E ratio of -13.06, a P/E/G ratio of 3.06 and a beta of 1.57.

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%. On average, equities analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current 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.

Insiders Place Their Bets

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 owned by insiders.

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.