Louisiana State Employees Retirement System Takes $1.15 Million Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Louisiana State Employees Retirement System bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 64,900 shares of the technology company’s stock, valued at approximately $1,145,000. Louisiana State Employees Retirement System owned approximately 0.05% of Extreme Networks as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in Extreme Networks during the 4th quarter valued at approximately $784,000. Allworth Financial LP grew its stake in Extreme Networks by 4,924.4% during the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after purchasing an additional 2,019 shares in the last quarter. Capital Advantage Inc. grew its stake in Extreme Networks by 5.2% during the 4th quarter. Capital Advantage Inc. now owns 212,500 shares of the technology company’s stock valued at $3,748,000 after purchasing an additional 10,466 shares in the last quarter. Mirador Capital Partners LP grew its stake in Extreme Networks by 10.5% during the 4th quarter. Mirador Capital Partners LP now owns 146,933 shares of the technology company’s stock valued at $2,592,000 after purchasing an additional 13,989 shares in the last quarter. Finally, Armor Investment Advisors LLC acquired a new stake in Extreme Networks during the 4th quarter valued at approximately $443,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Activity

In other news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks 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 legal filing with the SEC, which can be accessed through the SEC website. 3.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lowered Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Rosenblatt Securities downgraded Extreme Networks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. B. Riley raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Monday, April 15th. Finally, TheStreet downgraded Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.36.

Extreme Networks Stock Up 3.4 %

EXTR opened at $11.09 on Wednesday. Extreme Networks, Inc. has a 12 month low of $10.57 and a 12 month high of $32.73. 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 stock has a market cap 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 stock’s 50 day moving average price is $11.65 and its 200 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 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The business had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. As a group, research analysts predict that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Extreme Networks 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.