Healthcare of Ontario Pension Plan Trust Fund Sells 270,907 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 56.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,000 shares of the technology company’s stock after selling 270,907 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.16% of Extreme Networks worth $3,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks in the fourth quarter worth $82,000. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 94,881 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of 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 acquiring an additional 141,015 shares during the last quarter. Grizzlyrock Capital LLC acquired a new stake in Extreme Networks during the fourth quarter worth $176,000. Finally, Seven Eight Capital LP boosted its stake in Extreme Networks by 724.8% during the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock worth $3,420,000 after buying an additional 170,395 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Down 0.6 %

EXTR stock opened at $12.28 on Wednesday. The business has a fifty day moving average price of $11.31 and a 200 day moving average price of $13.26. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.61. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $32.73. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -175.43, a P/E/G ratio of 8.95 and a beta of 1.78.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TheStreet downgraded shares of Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Monday, June 10th. B. Riley upped their price objective on Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Craig Hallum upgraded Extreme Networks from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $14.00 in a research report on Thursday, May 16th. Finally, Rosenblatt Securities upgraded Extreme Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $17.00 in a research report on Thursday, May 2nd. Four equities research 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, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.64.

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.