Public Sector Pension Investment Board Purchases 22,063 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Public Sector Pension Investment Board raised its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.6% in the second quarter, HoldingsChannel reports. The firm owned 859,926 shares of the technology company’s stock after buying an additional 22,063 shares during the quarter. Public Sector Pension Investment Board’s holdings in Extreme Networks were worth $11,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Extreme Networks during the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after buying an additional 4,709 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks during the 4th quarter valued at about $82,000. Gladius Capital Management LP purchased a new position in shares of Extreme Networks during the 2nd quarter valued at about $90,000. Finally, Quest Partners LLC purchased a new position in shares of Extreme Networks during the 4th quarter valued at about $104,000. 91.05% of the stock is currently owned by institutional investors.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EXTR. Craig Hallum boosted their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.90.

Extreme Networks Stock Down 2.2 %

NASDAQ EXTR opened at $14.98 on Tuesday. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90. The company has a market capitalization of $1.95 billion, a P/E ratio of -214.00, a P/E/G ratio of 3.19 and a beta of 1.77. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $25.51. The stock has a 50 day moving average price of $14.30 and a 200-day moving average price of $12.63.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) 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 the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The firm’s revenue was down 29.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

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.