State of Alaska Department of Revenue Boosts Stock Position in Extreme Networks, Inc. $EXTR

State of Alaska Department of Revenue lifted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,245 shares of the technology company’s stock after buying an additional 5,687 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Extreme Networks worth $1,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Extreme Networks by 2,619.8% during the first quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company’s stock valued at $555,000 after acquiring an additional 40,397 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Extreme Networks by 25.1% in the 1st quarter. SG Americas Securities LLC now owns 62,288 shares of the technology company’s stock valued at $824,000 after purchasing an additional 12,503 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of Extreme Networks by 115.6% during the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company’s stock valued at $51,000 after purchasing an additional 2,081 shares during the last quarter. Avior Wealth Management LLC raised its position in Extreme Networks by 48.9% in the 1st quarter. Avior Wealth Management LLC now owns 13,998 shares of the technology company’s stock worth $185,000 after purchasing an additional 4,594 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in Extreme Networks in the first quarter worth $268,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Activity

In related news, CFO Kevin R. Rhodes sold 14,000 shares of Extreme Networks stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $21.52, for a total value of $301,280.00. Following the completion of the sale, the chief financial officer directly owned 126,202 shares in the company, valued at approximately $2,715,867.04. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $17.18, for a total value of $613,755.50. Following the completion of the transaction, the chief executive officer directly owned 1,541,282 shares of the company’s stock, valued at approximately $26,479,224.76. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,725 shares of company stock valued at $2,015,216 in the last quarter. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC raised their price objective on Extreme Networks from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Rosenblatt Securities raised their price target on Extreme Networks from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Lake Street Capital upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 7th. UBS Group raised their target price on shares of Extreme Networks from $15.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Extreme Networks in a research note on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.92.

Extreme Networks Price Performance

Shares of EXTR opened at $20.29 on Friday. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $22.89. The firm’s 50-day simple moving average is $20.68 and its two-hundred day simple moving average is $17.15. The stock has a market cap of $2.71 billion, a PE ratio of -405.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.81. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. Extreme Networks had a negative net margin of 0.65% and a positive return on equity of 82.47%. The firm had revenue of $307.00 million during the quarter, compared to analyst estimates of $299.88 million. During the same period last year, the business earned ($0.08) earnings per share. The business’s revenue was up 19.6% on a year-over-year basis. Analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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.