Royce & Associates LP Sells 7,268 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Royce & Associates LP decreased its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,823 shares of the technology company’s stock after selling 7,268 shares during the period. Royce & Associates LP’s holdings in Extreme Networks were worth $1,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,745 shares during the last quarter. Natixis Advisors LLC bought a new stake in Extreme Networks in the third quarter worth $224,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Extreme Networks by 57.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock worth $11,097,000 after buying an additional 269,459 shares during the period. Intech Investment Management LLC increased its position in Extreme Networks by 36.6% during the third quarter. Intech Investment Management LLC now owns 81,087 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 21,739 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Extreme Networks by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock valued at $17,429,000 after acquiring an additional 8,169 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR opened at $15.00 on Friday. The firm’s 50 day simple moving average is $15.73 and its 200-day simple moving average is $15.86. 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, Inc. has a one year low of $10.50 and a one year high of $19.24. The firm has a market cap of $1.99 billion, a PE ratio of -15.96, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share 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%. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks announced that its board has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EXTR. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Lake Street Capital upped 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, Rosenblatt Securities reissued 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’s stock. According to data from MarketBeat, Extreme Networks has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, 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 can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.

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.