Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 18.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,936 shares of the technology company’s stock after selling 104,154 shares during the period. Raymond James & Associates’ holdings in Extreme Networks were worth $6,065,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EXTR. International Assets Investment Management LLC acquired a new stake in shares of Extreme Networks during the 4th quarter worth about $784,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Extreme Networks by 12.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,336 shares of the technology company’s stock worth $500,000 after purchasing an additional 3,158 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Extreme Networks by 3.9% in the fourth quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock worth $423,000 after acquiring an additional 900 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Extreme Networks by 61.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 152,685 shares of the technology company’s stock worth $2,693,000 after acquiring an additional 57,870 shares during the last quarter. Finally, Brooktree Capital Management boosted its position in shares of Extreme Networks by 44.7% in the fourth quarter. Brooktree Capital Management now owns 151,562 shares of the technology company’s stock worth $2,674,000 after acquiring an additional 46,810 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum raised their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Rosenblatt Securities upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $17.00 in a report on Thursday, May 2nd. Finally, B. Riley raised their price target on shares of Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

Extreme Networks Trading Up 0.7 %

EXTR opened at $15.14 on Wednesday. The firm has a market capitalization of $1.97 billion, a P/E ratio of -216.29, a P/E/G ratio of 2.24 and a beta of 1.79. The firm’s 50 day moving average is $13.65 and its 200-day moving average is $12.29. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $27.92. The company has a quick ratio of 0.61, a current ratio of 0.96 and a debt-to-equity ratio of 2.78.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The firm had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. The company’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. Analysts expect that Extreme Networks, Inc. will post 0.08 EPS for the current fiscal 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.