Bailard Inc. Makes New $439,000 Investment in Extreme Networks, Inc. (NASDAQ:EXTR)

Bailard Inc. bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 24,900 shares of the technology company’s stock, valued at approximately $439,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position 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 valued at $312,191,000 after buying an additional 1,877,727 shares during the period. Raymond James & Associates raised its position in Extreme Networks by 4.1% in the fourth quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock valued at $9,526,000 after purchasing an additional 21,203 shares during the period. Pacer Advisors Inc. raised its position in 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. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Extreme Networks in the 4th quarter valued at $1,613,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Extreme Networks during the 3rd quarter worth $31,284,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $11.60 on Friday. Extreme Networks, Inc. has a 52 week low of $10.57 and a 52 week high of $32.73. The company has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $15.17. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last released 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 net margin of 5.96% and a return on equity of 98.24%. The company had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. As a group, equities analysts anticipate that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EXTR shares. TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. B. Riley upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Monday, April 15th. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. UBS Group cut Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Finally, Needham & Company LLC dropped their price objective on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.36.

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.