Louisiana State Employees Retirement System Buys Shares of 64,900 Extreme Networks, Inc. (NASDAQ:EXTR)

Louisiana State Employees Retirement System bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 64,900 shares of the technology company’s stock, valued at approximately $1,145,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EXTR. Meritage Portfolio Management raised its stake in shares of Extreme Networks by 5.5% during the 3rd quarter. Meritage Portfolio Management now owns 12,341 shares of the technology company’s stock worth $299,000 after buying an additional 638 shares during the last quarter. Westover Capital Advisors LLC increased its position in Extreme Networks by 0.4% during the 3rd quarter. Westover Capital Advisors LLC now owns 161,860 shares of the technology company’s stock worth $3,919,000 after purchasing an additional 716 shares in the last quarter. Nordea Investment Management AB increased its position in Extreme Networks by 0.3% during the 3rd quarter. Nordea Investment Management AB now owns 228,483 shares of the technology company’s stock worth $5,596,000 after purchasing an additional 779 shares in the last quarter. SkyView Investment Advisors LLC increased its position in Extreme Networks by 2.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 55,274 shares of the technology company’s stock worth $1,338,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Extreme Networks by 53.1% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,380 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Up 3.4 %

EXTR opened at $11.09 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. Extreme Networks, Inc. has a 12 month low of $10.57 and a 12 month high of $32.73. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.91 and a beta of 1.90. The business has a 50-day moving average of $11.65 and a two-hundred day moving average of $15.38.

Extreme Networks (NASDAQ:EXTR) last issued its 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). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The firm had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. On average, research analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Extreme Networks

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on EXTR shares. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. B. Riley upgraded Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Monday, April 15th. Needham & Company LLC lowered their price target on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. Rosenblatt Securities cut Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $15.00 in a report on Thursday, February 1st. Finally, UBS Group cut 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 report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.