New York State Teachers Retirement System Lowers Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

New York State Teachers Retirement System reduced its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,394 shares of the technology company’s stock after selling 2,200 shares during the period. New York State Teachers Retirement System owned about 0.06% of Extreme Networks worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Andina Capital Management LLC boosted its holdings in Extreme Networks by 3.8% in the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock valued at $264,000 after purchasing an additional 719 shares during the period. GAMMA Investing LLC boosted its holdings in Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Extreme Networks by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after purchasing an additional 1,600 shares during the period. ProShare Advisors LLC boosted its holdings in Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock valued at $294,000 after purchasing an additional 1,741 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock valued at $867,000 after purchasing an additional 1,749 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on EXTR. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a report on Wednesday. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Saturday. Craig Hallum lifted their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Insider Transactions at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,667,734.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,175 shares of company stock worth $1,763,279. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Stock Down 0.5 %

EXTR opened at $16.76 on Friday. The business’s 50-day simple moving average is $14.95 and its 200-day simple moving average is $13.52. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $18.77. The stock has a market capitalization of $2.21 billion, a P/E ratio of -17.28, a price-to-earnings-growth ratio of 3.58 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The firm had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. During the same quarter last year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. Analysts anticipate that Extreme Networks, Inc. will post 0.27 EPS for the current year.

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.