Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,558 shares of the technology company’s stock after selling 1,537 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Extreme Networks worth $973,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in Extreme Networks by 603.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,665 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC boosted its holdings in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock worth $37,000 after buying an additional 1,733 shares in the last quarter. Quarry LP boosted its holdings in Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company’s stock worth $41,000 after buying an additional 719 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Extreme Networks by 105.6% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company’s stock worth $42,000 after purchasing an additional 1,628 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EXTR. Lake Street Capital cut their target price on shares of Extreme Networks from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities lifted their target price on shares of Extreme Networks from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Finally, UBS Group dropped their price target on shares of Extreme Networks from $16.50 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.92.

Extreme Networks Stock Up 1.0%

Shares of NASDAQ:EXTR opened at $17.97 on Friday. The company has a 50 day moving average price of $15.36 and a two-hundred day moving average price of $15.41. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.70 and a current ratio of 0.93. Extreme Networks, Inc. has a 52 week low of $10.10 and a 52 week high of $19.24. The company has a market capitalization of $2.39 billion, a PE ratio of -43.83, a PEG ratio of 3.27 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $284.51 million during the quarter, compared to analysts’ expectations of $280.32 million. Extreme Networks had a positive return on equity of 13.79% and a negative net margin of 4.94%. Extreme Networks’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) EPS. Analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the sale, the chief executive officer now directly owns 1,510,719 shares in the company, valued at $20,742,171.87. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raj Khanna sold 2,027 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $17.43, for a total value of $35,330.61. Following the sale, the director now owns 231,708 shares of the company’s stock, valued at $4,038,670.44. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock worth $662,970 over the last quarter. Company insiders own 3.70% of the company’s stock.

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.