State of Alaska Department of Revenue Sells 1,537 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

State of Alaska Department of Revenue decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.0% during the 1st quarter, Holdings Channel reports. The firm owned 73,558 shares of the technology company’s stock after selling 1,537 shares during the quarter. State of Alaska Department of Revenue’s holdings in Extreme Networks were worth $973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company’s stock worth $38,103,000 after acquiring an additional 2,275,619 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Extreme Networks in the fourth quarter valued at $16,573,000. JPMorgan Chase & Co. raised its stake in shares of Extreme Networks by 312.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company’s stock valued at $20,078,000 after purchasing an additional 908,336 shares during the period. Penn Capital Management Company LLC bought a new stake in shares of Extreme Networks during the 4th quarter valued at $14,229,000. Finally, Vanguard Group Inc. grew its position in Extreme Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company’s stock worth $299,965,000 after buying an additional 690,262 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXTR. Rosenblatt Securities upped their price objective on Extreme Networks from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. Lake Street Capital dropped their target price on shares of Extreme Networks from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Finally, UBS Group lowered their target price on shares of Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and an average price target of $18.92.

Insider Buying and Selling

In related news, Director Raj Khanna sold 2,027 shares of Extreme Networks stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total value of $35,330.61. Following the completion of the transaction, the director now owns 231,708 shares in the company, valued at $4,038,670.44. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the sale, the chief executive officer now owns 1,510,719 shares of the company’s stock, valued at $20,742,171.87. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,725 shares of company stock valued at $662,970. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

Extreme Networks stock opened at $17.97 on Friday. The firm has a 50-day moving average of $15.36 and a two-hundred day moving average of $15.41. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -43.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.73. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.93 and a quick ratio of 0.70.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. Extreme Networks’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) EPS. On average, research analysts forecast that Extreme Networks, Inc. will post 0.31 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.