BlackRock Inc. reduced its stake in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,255,064 shares of the technology company’s stock after selling 128,688 shares during the period. BlackRock Inc. owned about 0.14% of Extreme Networks worth $99,156,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in Extreme Networks during the 4th quarter worth approximately $25,000. PNC Financial Services Group Inc. increased its holdings in Extreme Networks by 384.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,292 shares of the technology company’s stock worth $57,000 after purchasing an additional 7,372 shares in the last quarter. Signet Investment Advisory Group Inc. bought a new stake in Extreme Networks during the 4th quarter worth approximately $76,000. Vident Investment Advisory LLC bought a new stake in Extreme Networks during the 3rd quarter worth approximately $102,000. Finally, Raymond James Trust N.A. increased its holdings in Extreme Networks by 21.5% during the 4th quarter. Raymond James Trust N.A. now owns 21,500 shares of the technology company’s stock worth $131,000 after purchasing an additional 3,800 shares in the last quarter. 80.67% of the stock is owned by hedge funds and other institutional investors.

EXTR has been the subject of a number of recent research reports. DA Davidson set a $13.00 price objective on Extreme Networks and gave the stock a “buy” rating in a report on Monday, January 14th. Zacks Investment Research lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, January 28th. ValuEngine lowered Extreme Networks from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Finally, BidaskClub lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.00.

EXTR stock opened at $7.46 on Friday. The company has a market capitalization of $864.02 million, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.97 and a beta of 1.26. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.23 and a quick ratio of 1.04. Extreme Networks, Inc has a 12-month low of $4.81 and a 12-month high of $11.76.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Tuesday, January 29th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $252.70 million during the quarter, compared to analyst estimates of $244.45 million. Extreme Networks had a positive return on equity of 36.26% and a negative net margin of 2.04%. Extreme Networks’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Analysts anticipate that Extreme Networks, Inc will post 0.27 earnings per share for the current fiscal year.

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About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

Further Reading: Market Capitalization

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Institutional Ownership by Quarter for Extreme Networks (NASDAQ:EXTR)

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