Byrne Asset Management LLC Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Byrne Asset Management LLC acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, Holdings Channel reports. The firm acquired 1,800 shares of the technology company’s stock, valued at approximately $30,000.

Several other hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its holdings in shares of Extreme Networks by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 75,095 shares of the technology company’s stock worth $1,257,000 after acquiring an additional 717 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Extreme Networks by 31.4% in the fourth 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. Andina Capital Management LLC grew its stake in shares of Extreme Networks by 4.1% during the third quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after purchasing an additional 795 shares during the period. GAMMA Investing LLC increased its stake in shares of Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Extreme Networks by 2.2% during the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 1,541 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the sale, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock worth $713,608 in the last quarter. 3.70% of the stock is owned by insiders.

Extreme Networks Trading Down 0.6 %

Shares of Extreme Networks stock opened at $15.39 on Friday. The firm’s 50 day moving average is $17.09 and its 200 day moving average is $15.65. The firm has a market capitalization of $2.04 billion, a PE ratio of -16.37, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $19.24. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EXTR shares. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. B. Riley increased their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Craig Hallum boosted their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Lake Street Capital lifted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. One investment 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 presently has an average rating of “Moderate Buy” and an average 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.