Nisa Investment Advisors LLC Trims Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Nisa Investment Advisors LLC reduced its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 34.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,233 shares of the technology company’s stock after selling 1,720 shares during the period. Nisa Investment Advisors LLC’s holdings in Extreme Networks were worth $57,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of Extreme Networks by 4,924.4% in the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after purchasing an additional 2,019 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Extreme Networks in the 4th quarter valued at about $784,000. Capital Advantage Inc. increased its position in Extreme Networks by 5.2% in the 4th quarter. Capital Advantage Inc. now owns 212,500 shares of the technology company’s stock valued at $3,748,000 after acquiring an additional 10,466 shares during the period. Mirador Capital Partners LP increased its position in Extreme Networks by 10.5% in the 4th quarter. Mirador Capital Partners LP now owns 146,933 shares of the technology company’s stock valued at $2,592,000 after acquiring an additional 13,989 shares during the period. Finally, Armor Investment Advisors LLC acquired a new position in Extreme Networks in the 4th quarter valued at about $443,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Stock Up 0.3 %

EXTR stock opened at $10.97 on Monday. The company has a market cap of $1.41 billion, a P/E ratio of 18.28, a P/E/G ratio of 3.91 and a beta of 1.90. Extreme Networks, Inc. has a 52 week low of $10.57 and a 52 week high of $32.73. The company’s 50-day moving average price is $11.70 and its 200 day moving average price is $15.55. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company 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%. On average, research analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group cut Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Needham & Company LLC dropped their price target on Extreme Networks from $23.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, February 1st. B. Riley upgraded Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Monday, April 15th. Rosenblatt Securities cut Extreme Networks from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. Finally, StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.36.

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.