Louisiana State Employees Retirement System Increases Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Louisiana State Employees Retirement System lifted its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,900 shares of the technology company’s stock after purchasing an additional 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Extreme Networks were worth $1,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXTR. Creative Planning boosted its holdings in shares of Extreme Networks by 32.1% in the 3rd quarter. Creative Planning now owns 21,140 shares of the technology company’s stock worth $318,000 after purchasing an additional 5,133 shares during the period. Raymond James & Associates boosted its holdings in shares of Extreme Networks by 2.0% in the 3rd quarter. Raymond James & Associates now owns 460,153 shares of the technology company’s stock worth $6,916,000 after purchasing an additional 9,217 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Extreme Networks by 134.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company’s stock worth $176,000 after purchasing an additional 6,703 shares during the period. Aquila Investment Management LLC purchased a new position in shares of Extreme Networks in the 3rd quarter worth approximately $962,000. Finally, Andina Capital Management LLC boosted its holdings in shares of Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In related news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the transaction, the director now directly owns 371,793 shares in the company, valued at $5,970,995.58. The trade was a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 45,725 shares of company stock valued at $713,608. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Trading Up 2.8 %

Shares of NASDAQ EXTR opened at $16.38 on Tuesday. 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 business has a fifty day simple moving average of $16.86 and a two-hundred day simple moving average of $15.77. The firm has a market cap of $2.17 billion, a PE ratio of -17.43, a price-to-earnings-growth ratio of 2.99 and a beta of 1.73. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results 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 11.98% and a negative return on equity of 110.86%. Analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXTR. B. Riley boosted their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a report on Thursday, January 30th. Lake Street Capital boosted their price objective on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Rosenblatt Securities restated a “buy” rating and set a $22.00 price objective on shares of Extreme Networks in a report on Friday, February 7th. Finally, Craig Hallum boosted 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

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.