Algert Global LLC boosted its position in Extreme Networks, Inc (NASDAQ:EXTR) by 127.7% during the third quarter, Holdings Channel reports. The institutional investor owned 300,000 shares of the technology company’s stock after purchasing an additional 168,238 shares during the quarter. Algert Global LLC’s holdings in Extreme Networks were worth $1,644,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Extreme Networks by 2.6% during the 3rd quarter. BlackRock Inc. now owns 16,383,752 shares of the technology company’s stock worth $89,782,000 after purchasing an additional 420,188 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of Extreme Networks during the 2nd quarter worth approximately $47,680,000. FMR LLC increased its position in shares of Extreme Networks by 4.3% during the 3rd quarter. FMR LLC now owns 3,526,720 shares of the technology company’s stock worth $19,326,000 after purchasing an additional 145,520 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Extreme Networks by 62.0% during the 3rd quarter. Alliancebernstein L.P. now owns 3,047,897 shares of the technology company’s stock worth $16,702,000 after purchasing an additional 1,166,520 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Extreme Networks during the 3rd quarter worth approximately $8,768,000. 80.59% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. Zacks Investment Research raised Extreme Networks from a “sell” rating to a “hold” rating in a research report on Monday, November 5th. ValuEngine lowered Extreme Networks from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. Finally, TheStreet lowered Extreme Networks from a “c-” rating to a “d+” rating in a report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.70.

In related news, insider Edward Meyercord sold 99,859 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $6.34, for a total transaction of $633,106.06. Following the transaction, the insider now directly owns 554,840 shares of the company’s stock, valued at approximately $3,517,685.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.45% of the stock is currently owned by insiders.

EXTR stock opened at $5.82 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.51. The company has a market cap of $712.39 million, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.30 and a beta of 0.82. Extreme Networks, Inc has a 1-year low of $4.81 and a 1-year high of $15.55.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Friday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $239.89 million for the quarter, compared to analyst estimates of $233.36 million. Extreme Networks had a positive return on equity of 35.66% and a negative net margin of 5.96%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. Equities analysts forecast that Extreme Networks, Inc will post 0.33 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Algert Global LLC Purchases 168,238 Shares of Extreme Networks, Inc (EXTR)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2018/12/08/algert-global-llc-purchases-168238-shares-of-extreme-networks-inc-extr.html.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

Read More: Risk Tolerance and Your Investment Decisions

Want to see what other hedge funds are holding EXTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extreme Networks, Inc (NASDAQ:EXTR).

Institutional Ownership by Quarter for Extreme Networks (NASDAQ:EXTR)

Receive News & Ratings for Extreme Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks and related companies with MarketBeat.com's FREE daily email newsletter.