International Assets Investment Management LLC Invests $784,000 in Extreme Networks, Inc. (NASDAQ:EXTR)

International Assets Investment Management LLC bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the 4th quarter, Holdings Channel.com reports. The firm bought 44,453 shares of the technology company’s stock, valued at approximately $784,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Advantage Inc. boosted its stake in shares of Extreme Networks by 5.2% during the 4th quarter. Capital Advantage Inc. now owns 212,500 shares of the technology company’s stock worth $3,748,000 after acquiring an additional 10,466 shares during the period. Mirador Capital Partners LP increased its holdings in shares of Extreme Networks by 10.5% in the fourth quarter. Mirador Capital Partners LP now owns 146,933 shares of the technology company’s stock valued at $2,592,000 after purchasing an additional 13,989 shares during the last quarter. Armor Investment Advisors LLC bought a new position in shares of Extreme Networks in the fourth quarter valued at about $443,000. Pacer Advisors Inc. lifted its stake in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after buying an additional 3,407,064 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Extreme Networks by 4.1% during the 4th quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after buying an additional 21,203 shares during the period. Institutional investors own 91.05% of the company’s stock.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 28,443 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the completion of the sale, the chief executive officer now directly owns 1,129,611 shares in the company, valued at $14,956,049.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Rosenblatt Securities cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $15.00 in a research note 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 upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Monday, April 15th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.36.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $11.09 on Wednesday. Extreme Networks, Inc. has a 1 year low of $10.57 and a 1 year high of $32.73. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 3.91 and a beta of 1.90. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. The firm’s 50 day simple moving average is $11.65 and its 200 day simple moving average is $15.38.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results 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 business had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. As a group, research analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

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.