53,025 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Bought by Duality Advisers LP

Duality Advisers LP bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 53,025 shares of the technology company’s stock, valued at approximately $935,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. bought a new position in Extreme Networks in the third quarter valued at approximately $37,000. Handelsbanken Fonder AB raised its stake in shares of Extreme Networks by 26.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 23,100 shares of the technology company’s stock valued at $559,000 after purchasing an additional 4,900 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Extreme Networks during the third quarter worth about $549,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Extreme Networks during the third quarter worth about $339,000. Finally, Raymond James & Associates grew its holdings in shares of Extreme Networks by 19.1% during the third quarter. Raymond James & Associates now owns 518,825 shares of the technology company’s stock worth $12,561,000 after buying an additional 83,211 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EXTR. UBS Group cut shares of 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. StockNews.com downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TheStreet downgraded Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. B. Riley upgraded Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Monday, April 15th. Finally, Needham & Company LLC decreased 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.36.

Extreme Networks Trading Up 3.4 %

NASDAQ EXTR opened at $11.09 on Wednesday. The firm has a market capitalization of $1.43 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 3.83 and a beta of 1.90. The business’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $15.38. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. Extreme Networks, Inc. has a 12 month low of $10.57 and a 12 month high of $32.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 98.24% and a net margin of 5.96%. On average, analysts expect that Extreme Networks, Inc. will post 0.17 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.