Wells Fargo & Company MN Has $1.45 Million Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Wells Fargo & Company MN lifted its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 32.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,521 shares of the technology company's stock after purchasing an additional 21,047 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Extreme Networks worth $1,448,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its position in Extreme Networks by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company's stock valued at $1,257,000 after acquiring an additional 717 shares during the period. Pacer Advisors Inc. grew its position in Extreme Networks by 31.4% in the fourth 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 during the period. Ironwood Investment Management LLC grew its position in Extreme Networks by 0.7% in the fourth quarter. Ironwood Investment Management LLC now owns 107,741 shares of the technology company's stock valued at $1,804,000 after acquiring an additional 782 shares during the period. Arizona State Retirement System grew its position in Extreme Networks by 2.4% in the fourth 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 period. Finally, Louisiana State Employees Retirement System grew its position in Extreme Networks by 1.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the technology company's stock valued at $1,070,000 after acquiring an additional 900 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR opened at $12.49 on Monday. The business has a fifty day moving average of $13.54 and a 200-day moving average of $15.41. 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 firm has a market cap of $1.66 billion, a PE ratio of -13.29, 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.

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%. On average, equities research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXTR. Rosenblatt Securities lowered their price target on Extreme Networks from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Lake Street Capital raised 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.50.

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.

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