Dynamic Technology Lab Private Ltd Sells 16,680 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Dynamic Technology Lab Private Ltd cut its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 38.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,640 shares of the technology company’s stock after selling 16,680 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Extreme Networks were worth $446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Extreme Networks by 397,835.5% in 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 buying an additional 2,275,619 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Extreme Networks by 312.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company’s stock valued at $20,078,000 after acquiring an additional 908,336 shares during the last quarter. Vanguard Group Inc. lifted its stake in Extreme Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company’s stock worth $299,965,000 after purchasing an additional 690,262 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of 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 valued at $10,474,000 after purchasing an additional 589,713 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Extreme Networks during the fourth quarter valued at about $9,363,000. 91.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EXTR shares. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Lake Street Capital raised their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’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 transaction of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by insiders.

Extreme Networks Trading Down 2.3 %

Shares of NASDAQ EXTR opened at $10.84 on Wednesday. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $19.24. The business has a fifty day moving average price of $14.66 and a 200 day moving average price of $15.73. The stock has a market capitalization of $1.44 billion, a P/E ratio of -11.53, 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 current ratio of 0.93 and a quick ratio of 0.68.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (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%. Equities research analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.