Amundi Purchases 39,819 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Amundi grew its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 82.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 88,308 shares of the technology company’s stock after acquiring an additional 39,819 shares during the quarter. Amundi’s holdings in Extreme Networks were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its holdings in Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,745 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Extreme Networks by 2.2% during the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock valued at $1,065,000 after acquiring an additional 1,541 shares during the period. Royce & Associates LP raised its holdings in Extreme Networks by 13.5% during the third quarter. Royce & Associates LP now owns 108,091 shares of the technology company’s stock valued at $1,625,000 after acquiring an additional 12,871 shares during the period. Natixis Advisors LLC bought a new stake in Extreme Networks during the third quarter valued at about $224,000. Finally, TrinityPoint Wealth LLC bought a new stake in Extreme Networks during the third quarter valued at about $179,000. 91.05% of the stock is owned by institutional investors.

Extreme Networks Trading Up 1.9 %

Shares of Extreme Networks stock opened at $14.80 on Tuesday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -15.74, a PEG ratio of 3.06 and a beta of 1.72. The business has a 50-day moving average price of $15.87 and a 200-day moving average price of $15.88. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. Extreme Networks, Inc. has a twelve month low of $10.50 and a twelve month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate 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 anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently 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.