Victory Capital Management Inc. Has $73.67 Million Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Victory Capital Management Inc. reduced its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400,924 shares of the technology company's stock after selling 65,107 shares during the quarter. Victory Capital Management Inc. owned approximately 3.31% of Extreme Networks worth $73,671,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EXTR. Portolan Capital Management LLC boosted its stake in Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after purchasing an additional 700,724 shares in the last quarter. New York State Common Retirement Fund lifted its position in 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 buying an additional 589,713 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Extreme Networks by 57.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after acquiring an additional 269,459 shares during the last quarter. Barclays PLC increased its position in Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Extreme Networks in the third quarter worth about $2,113,000. 91.05% of the stock is currently owned by institutional investors.

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Extreme Networks Trading Down 5.9 %

Shares of EXTR stock traded down $0.87 during trading hours on Monday, reaching $13.98. The company had a trading volume of 1,515,734 shares, compared to its average volume of 1,073,594. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $19.24. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -14.87, a P/E/G ratio of 3.06 and a beta of 1.72. The company has a 50 day moving average of $16.16 and a 200 day moving average of $15.91.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released 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 research analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current year.

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

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EXTR. 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. Lake Street Capital lifted their target price on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and a consensus target price of $20.30.

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.