Narus Financial Partners LLC Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Narus Financial Partners LLC purchased a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,250 shares of the technology company’s stock, valued at approximately $130,000.

Several other hedge funds and other institutional investors also recently modified their holdings of EXTR. Mirador Capital Partners LP lifted its holdings in Extreme Networks by 68.1% in the first quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after purchasing an additional 100,075 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Extreme Networks in the first quarter worth about $256,000. Hennessy Advisors Inc. acquired a new stake in Extreme Networks in the fourth quarter worth about $82,000. Vanguard Group Inc. lifted its holdings in Extreme Networks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock worth $229,143,000 after purchasing an additional 94,881 shares during the period. Finally, Congress Asset Management Co. MA lifted its holdings in Extreme Networks by 11.4% in the fourth quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock worth $24,284,000 after purchasing an additional 141,015 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Down 1.1 %

NASDAQ EXTR opened at $12.98 on Wednesday. The stock’s 50-day moving average price is $11.69 and its two-hundred day moving average price is $12.96. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.61 and a current ratio of 0.96. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $32.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The company had revenue of $211.04 million for the quarter, compared to analyst estimates of $207.80 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EXTR. Rosenblatt Securities raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $17.00 in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Monday, June 10th. B. Riley boosted their price target on shares of Extreme Networks from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Craig Hallum upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $14.00 in a research report on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.25.

About Extreme Networks

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.