1,800 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Purchased by Byrne Asset Management LLC

Byrne Asset Management LLC acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,800 shares of the technology company’s stock, valued at approximately $30,000.

Several other large investors also recently bought and sold shares of EXTR. State of Alaska Department of Revenue grew its holdings in shares of Extreme Networks by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after purchasing an additional 717 shares during the period. Meritage Portfolio Management grew its position in Extreme Networks by 7.4% during the 4th quarter. Meritage Portfolio Management now owns 63,539 shares of the technology company’s stock worth $1,064,000 after purchasing an additional 4,376 shares during the last quarter. Calamos Advisors LLC increased its stake in Extreme Networks by 88.1% in the 4th quarter. Calamos Advisors LLC now owns 123,997 shares of the technology company’s stock valued at $2,076,000 after buying an additional 58,085 shares during the period. Smith Group Asset Management LLC acquired a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $1,071,000. Finally, Pacer Advisors Inc. boosted its holdings in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after buying an additional 741 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXTR. B. Riley raised their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. Craig Hallum increased their price target on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Lake Street Capital upped their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.30.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total transaction of $80,300.00. Following the sale, the director now directly owns 371,793 shares in the company, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,725 shares of company stock worth $713,608. 3.70% of the stock is owned by company insiders.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $15.39 on Friday. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $19.24. The firm has a market capitalization of $2.04 billion, a PE ratio of -16.37, a P/E/G ratio of 3.44 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The business’s fifty day moving average price is $17.09 and its two-hundred day moving average price is $15.65.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. On average, research analysts expect that Extreme Networks, Inc. will post 0.27 EPS for the current year.

About Extreme Networks

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.