Nisa Investment Advisors LLC Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Nisa Investment Advisors LLC grew its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 146.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,942 shares of the technology company’s stock after acquiring an additional 2,935 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Extreme Networks were worth $83,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in Extreme Networks in the second quarter valued at approximately $1,745,000. The Manufacturers Life Insurance Company lifted its position in shares of Extreme Networks by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after buying an additional 1,749 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Extreme Networks by 75.3% in the 2nd quarter. Mackenzie Financial Corp now owns 26,888 shares of the technology company’s stock valued at $362,000 after buying an additional 11,549 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Extreme Networks by 42.9% in the 2nd quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock valued at $11,507,000 after buying an additional 256,765 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Extreme Networks by 265.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after acquiring an additional 531,500 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EXTR shares. Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities increased their price target on shares of Extreme Networks from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Lake Street Capital lifted their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday. Finally, B. Riley boosted their price target on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR opened at $15.60 on Friday. The business’s 50-day simple moving average is $17.19 and its 200 day simple moving average is $15.59. The company has a market cap of $2.06 billion, a P/E ratio of -16.08, a PEG ratio of 3.76 and a beta of 1.75. 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 $19.24.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data 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 12.11% and a negative return on equity of 80.55%. On average, sell-side analysts forecast that Extreme Networks, Inc. will post 0.27 earnings per share for the current fiscal year.

Extreme Networks 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.