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

International Assets Investment Management LLC acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,453 shares of the technology company’s stock, valued at approximately $784,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after acquiring an additional 1,877,727 shares in the last quarter. FMR LLC grew its holdings in Extreme Networks by 32.0% during the third quarter. FMR LLC now owns 4,142,648 shares of the technology company’s stock valued at $100,294,000 after purchasing an additional 1,004,002 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Extreme Networks by 167,176.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Extreme Networks during the 3rd quarter worth $38,999,000. Finally, Fred Alger Management LLC acquired a new position in Extreme Networks in the 3rd quarter valued at $33,920,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TheStreet cut shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. B. Riley upgraded Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a report on Monday, April 15th. Rosenblatt Securities downgraded shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $15.00 in a research note on Thursday, February 1st. Needham & Company LLC cut their target price on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, February 1st. Finally, UBS Group downgraded shares of Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $14.00 in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Extreme Networks currently has an average rating of “Hold” and an average target price of $22.36.

Extreme Networks Stock Up 3.4 %

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

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. On average, analysts anticipate that Extreme Networks, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Extreme Networks 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 transaction of $376,585.32. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is owned by corporate insiders.

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.