Meritage Portfolio Management Boosts Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Meritage Portfolio Management boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,539 shares of the technology company’s stock after purchasing an additional 4,376 shares during the period. Meritage Portfolio Management’s holdings in Extreme Networks were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Extreme Networks during the 3rd quarter worth approximately $26,000. GAMMA Investing LLC raised its position in Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares in the last quarter. Pacer Advisors Inc. raised its position in Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Extreme Networks by 146.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock valued at $83,000 after acquiring an additional 2,935 shares during the period. Finally, KBC Group NV boosted its position in shares of Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,745 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 2.7 %

Shares of NASDAQ EXTR opened at $15.79 on Thursday. The firm’s 50-day moving average is $17.11 and its two-hundred day moving average is $15.65. The company has a market capitalization of $2.10 billion, a PE ratio of -16.80, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $19.24. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts anticipate that Extreme Networks, Inc. will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EXTR shares. Rosenblatt Securities increased their price target on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Lake Street Capital increased their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Craig Hallum lifted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Extreme Networks in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

Insider Activity at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, 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. Insiders own 3.70% of the company’s stock.

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.