Arizona State Retirement System Trims Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Arizona State Retirement System cut its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,285 shares of the technology company’s stock after selling 1,773 shares during the period. Arizona State Retirement System’s holdings in Extreme Networks were worth $945,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cutler Group LLC CA increased its stake in shares of Extreme Networks by 166.7% during the second quarter. Cutler Group LLC CA now owns 1,200 shares of the technology company’s stock valued at $31,000 after buying an additional 3,000 shares during the period. Tucker Asset Management LLC purchased a new stake in Extreme Networks in the first quarter worth $32,000. Meeder Asset Management Inc. grew its stake in Extreme Networks by 49.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock worth $33,000 after purchasing an additional 592 shares during the period. Parkside Financial Bank & Trust grew its stake in Extreme Networks by 393.2% in the first quarter. Parkside Financial Bank & Trust now owns 2,338 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,864 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Extreme Networks by 113.0% in the first quarter. Nisa Investment Advisors LLC now owns 2,413 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,280 shares during the period. 86.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Extreme Networks news, CRO Joseph A. Vitalone sold 45,090 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $23.71, for a total value of $1,069,083.90. Following the transaction, the executive now owns 107,804 shares of the company’s stock, valued at $2,556,032.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

Extreme Networks Trading Up 4.0 %

Shares of NASDAQ:EXTR opened at $20.62 on Wednesday. The company has a market cap of $2.67 billion, a P/E ratio of 35.55, a PEG ratio of 1.05 and a beta of 2.05. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.00 and a quick ratio of 0.85. Extreme Networks, Inc. has a 1 year low of $14.63 and a 1 year high of $32.73. The stock’s fifty day moving average price is $24.06 and its 200-day moving average price is $23.57.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $363.91 million for the quarter, compared to the consensus estimate of $344.85 million. Extreme Networks had a return on equity of 95.31% and a net margin of 5.95%. Sell-side analysts expect that Extreme Networks, Inc. will post 1.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Extreme Networks in a research note on Monday, September 18th. UBS Group assumed coverage on Extreme Networks in a research note on Friday, September 22nd. They issued a “buy” rating and a $30.00 target price on the stock. StockNews.com assumed coverage on Extreme Networks in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. B. Riley cut Extreme Networks from a “buy” rating to a “neutral” rating and increased their target price for the stock from $25.00 to $30.00 in a research note on Thursday, August 3rd. Finally, Craig Hallum increased their target price on Extreme Networks from $17.50 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.75.

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.