Calamos Advisors LLC Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Calamos Advisors LLC boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 88.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,997 shares of the technology company’s stock after purchasing an additional 58,085 shares during the period. Calamos Advisors LLC’s holdings in Extreme Networks were worth $2,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smith Group Asset Management LLC purchased a new position in shares of Extreme Networks in the fourth quarter valued at $1,071,000. Pacer Advisors Inc. grew its stake in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after acquiring an additional 741 shares during the last quarter. KBC Group NV increased its holdings in Extreme Networks by 37.7% during the 4th quarter. KBC Group NV now owns 6,831 shares of the technology company’s stock valued at $114,000 after acquiring an additional 1,872 shares in the last quarter. Andina Capital Management LLC raised its position in Extreme Networks by 8.2% during the fourth quarter. Andina Capital Management LLC now owns 22,076 shares of the technology company’s stock worth $370,000 after acquiring an additional 1,671 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in shares of Extreme Networks in the fourth quarter valued at about $157,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Price Performance

EXTR stock opened at $15.38 on Wednesday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -16.36, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. The stock’s fifty day simple moving average is $17.12 and its 200-day simple moving average is $15.65. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $19.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. Equities research analysts expect that Extreme Networks, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other news, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the transaction, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,725 shares of company stock valued at $713,608 over the last quarter. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Lake Street Capital raised their price objective on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, January 30th. Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, B. Riley boosted their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Extreme Networks Company 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.