Extreme Networks, Inc. (NASDAQ:EXTR) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,095 shares of the technology company’s stock after purchasing an additional 717 shares during the period. State of Alaska Department of Revenue owned 0.06% of Extreme Networks worth $1,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Extreme Networks by 318.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after buying an additional 3,399,288 shares during the period. Portolan Capital Management LLC increased its stake in shares of Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after purchasing an additional 700,724 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Extreme Networks by 57.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock valued at $11,097,000 after purchasing an additional 269,459 shares during the last quarter. Barclays PLC boosted its position in Extreme Networks by 369.8% during the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock worth $3,274,000 after acquiring an additional 171,500 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Extreme Networks in the 3rd quarter worth about $2,113,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,725 shares of company stock valued at $713,608. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXTR. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Craig Hallum increased their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Lake Street Capital increased their price objective 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 issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.30.

Extreme Networks Stock Performance

EXTR opened at $15.52 on Thursday. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The business has a fifty day simple moving average of $16.99 and a 200-day simple moving average of $15.72. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The firm has a market cap of $2.06 billion, a PE ratio of -16.51, a P/E/G ratio of 2.99 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS 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.