Mirador Capital Partners LP Buys 100,075 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Mirador Capital Partners LP increased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 68.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 247,008 shares of the technology company’s stock after purchasing an additional 100,075 shares during the quarter. Mirador Capital Partners LP owned about 0.19% of Extreme Networks worth $2,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tucker Asset Management LLC bought a new position in Extreme Networks in the 3rd quarter worth about $41,000. Allworth Financial LP grew its position in Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after acquiring an additional 2,019 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Extreme Networks in the fourth quarter valued at $82,000. Quest Partners LLC purchased a new stake in Extreme Networks during the fourth quarter valued at about $104,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Extreme Networks by 66.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,227 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,481 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Extreme Networks Price Performance

NASDAQ:EXTR traded down $0.13 during mid-day trading on Monday, reaching $13.32. 74,197 shares of the company’s stock traded hands, compared to its average volume of 2,242,049. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $32.73. The company has a quick ratio of 0.61, a current ratio of 0.96 and a debt-to-equity ratio of 2.78. The company has a 50 day moving average price of $11.61 and a 200-day moving average price of $13.04.

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

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.