Extreme Networks, Inc. (NASDAQ:EXTR) Shares Purchased by Allworth Financial LP

Allworth Financial LP increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 4,924.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,060 shares of the technology company’s stock after acquiring an additional 2,019 shares during the quarter. Allworth Financial LP’s holdings in Extreme Networks were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Extreme Networks by 49.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock valued at $33,000 after acquiring an additional 592 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Extreme Networks during the 3rd quarter valued at about $37,000. Tucker Asset Management LLC acquired a new position in shares of Extreme Networks during the 3rd quarter valued at about $41,000. Advisors Asset Management Inc. boosted its position in shares of Extreme Networks by 101.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company’s stock valued at $45,000 after acquiring an additional 947 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Extreme Networks by 389.4% during the 1st quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock valued at $54,000 after acquiring an additional 3,551 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Down 3.3 %

Shares of NASDAQ:EXTR opened at $10.70 on Monday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. The firm has a market capitalization of $1.38 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.81 and a beta of 1.90. The firm’s 50-day moving average is $11.83 and its two-hundred day moving average is $16.02. Extreme Networks, Inc. has a 1 year low of $10.57 and a 1 year high of $32.73.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. Analysts predict that Extreme Networks, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction of $376,585.32. Following the sale, the chief executive officer now directly owns 1,129,611 shares in the company, valued at $14,956,049.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXTR. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Rosenblatt Securities cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $15.00 in a research report on Thursday, February 1st. Needham & Company LLC decreased their target price on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Finally, B. Riley decreased their target price on shares of Extreme Networks from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.36.

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.