Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,036 shares of the technology company’s stock after purchasing an additional 6,616 shares during the period. Franklin Resources Inc. owned 0.41% of Extreme Networks worth $9,208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after purchasing an additional 171,500 shares during the period. Essex Investment Management Co. LLC acquired a new position in Extreme Networks during the fourth quarter worth about $2,599,000. Legato Capital Management LLC grew its holdings in Extreme Networks by 225.2% during the fourth quarter. Legato Capital Management LLC now owns 107,948 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 74,758 shares during the period. Principal Financial Group Inc. raised its position in Extreme Networks by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company’s stock worth $10,756,000 after acquiring an additional 26,853 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Extreme Networks in the 4th quarter valued at about $8,291,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Trading Down 2.3 %

NASDAQ EXTR opened at $10.84 on Wednesday. The firm’s 50 day moving average price is $14.66 and its two-hundred day moving average price is $15.73. 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 twelve month low of $10.10 and a twelve month high of $19.24. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -11.53, a PEG ratio of 3.06 and a beta of 1.57.

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

Extreme Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction 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 of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $22.00 price target on shares of Extreme Networks in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Lake Street Capital lifted their target price on Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

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.