31,483 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Acquired by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,483 shares of the technology company's stock, valued at approximately $527,000.

Several other institutional investors have also recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of Extreme Networks by 369.8% during the third 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. SkyView Investment Advisors LLC lifted its stake in shares of Extreme Networks by 8.7% in the third quarter. SkyView Investment Advisors LLC now owns 101,439 shares of the technology company's stock valued at $1,525,000 after buying an additional 8,131 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Extreme Networks during the fourth quarter valued at about $267,000. First Hawaiian Bank bought a new stake in shares of Extreme Networks during the fourth quarter worth about $411,000. Finally, Mirador Capital Partners LP increased its position in shares of Extreme Networks by 0.5% during the fourth quarter. Mirador Capital Partners LP now owns 367,197 shares of the technology company's stock worth $6,147,000 after acquiring an additional 1,873 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Extreme Networks Stock Performance

EXTR stock traded up $0.16 during mid-day trading on Friday, hitting $12.51. The company had a trading volume of 121,084 shares, compared to its average volume of 1,458,550. The stock's fifty day moving average price is $13.62 and its two-hundred day moving average price is $15.42. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $19.24. 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. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

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%. On average, analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its Board of Directors has approved a share buyback 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 board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EXTR. Lake Street Capital increased their price target on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Rosenblatt Securities decreased their price objective on shares of Extreme Networks from $22.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Extreme Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value 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. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company 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.