Louisiana State Employees Retirement System Has $947,000 Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Louisiana State Employees Retirement System cut its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,000 shares of the technology company’s stock after selling 2,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Extreme Networks were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EXTR. Andina Capital Management LLC grew its holdings in Extreme Networks by 3.8% during the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after acquiring an additional 719 shares during the period. GAMMA Investing LLC grew its stake in Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,035 shares during the period. ProShare Advisors LLC increased its holdings in Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after purchasing an additional 1,741 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock valued at $867,000 after buying an additional 1,749 shares during the period. Finally, Ensign Peak Advisors Inc lifted its stake in Extreme Networks by 4.9% in the second quarter. Ensign Peak Advisors Inc now owns 47,907 shares of the technology company’s stock valued at $644,000 after buying an additional 2,250 shares during the period. Institutional investors own 91.05% of the company’s stock.

Analysts Set New Price Targets

EXTR has been the subject of several research analyst reports. B. Riley lifted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday. Rosenblatt Securities raised their target price on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Insiders Place Their Bets

In other news, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock valued at $1,763,279 in the last three months. 3.70% of the stock is currently owned by insiders.

Extreme Networks Trading Up 1.1 %

EXTR opened at $15.09 on Monday. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The firm has a market capitalization of $1.99 billion, a PE ratio of -15.56, a P/E/G ratio of 3.44 and a beta of 1.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The company’s 50-day moving average is $14.88 and its 200 day moving average is $13.35.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). The company had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, research analysts predict that Extreme Networks, Inc. will post 0.25 earnings per share 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.