Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lowered its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,239 shares of the technology company’s stock after selling 3,566 shares during the period. Headlands Technologies LLC’s holdings in Extreme Networks were worth $92,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Extreme Networks by 17.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after acquiring an additional 1,877,727 shares during the period. FMR LLC increased its stake in shares of Extreme Networks by 32.0% in the third quarter. FMR LLC now owns 4,142,648 shares of the technology company’s stock valued at $100,294,000 after purchasing an additional 1,004,002 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after buying an additional 3,407,064 shares during the last quarter. Voss Capital LLC boosted its position in shares of Extreme Networks by 55.6% during the fourth quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock worth $38,288,000 after buying an additional 775,500 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Extreme Networks in the 3rd quarter worth approximately $38,999,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the completion of the sale, the chief executive officer now directly owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.32% of the company’s stock.

Extreme Networks Price Performance

Shares of Extreme Networks stock opened at $11.55 on Tuesday. Extreme Networks, Inc. has a 52 week low of $10.57 and a 52 week high of $32.73. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. The company’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $15.01. The stock has a market cap of $1.49 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 4.14 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Rosenblatt Securities downgraded Extreme Networks from a “buy” rating to a “neutral” rating and cut their target price for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. B. Riley upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Monday, April 15th. Needham & Company LLC decreased their target price on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research report on Thursday, February 1st. TheStreet cut shares of Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.36.

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.