Extreme Networks, Inc. (NASDAQ:EXTR) Shares Purchased by Lyell Wealth Management LP

Lyell Wealth Management LP increased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 556,016 shares of the technology company’s stock after purchasing an additional 11,466 shares during the period. Lyell Wealth Management LP’s holdings in Extreme Networks were worth $9,808,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after purchasing an additional 1,877,727 shares during the last quarter. Raymond James & Associates raised its position in shares of Extreme Networks by 4.1% during the 4th quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after purchasing an additional 21,203 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after purchasing an additional 3,407,064 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Extreme Networks during the 3rd quarter worth about $31,284,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in shares of Extreme Networks during the 4th quarter worth about $1,613,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Up 0.5 %

Shares of Extreme Networks stock traded up $0.06 during mid-day trading on Wednesday, hitting $11.15. The stock had a trading volume of 1,555,302 shares, compared to its average volume of 2,054,124. The firm has a 50-day moving average of $11.63 and a two-hundred day moving average of $15.35. Extreme Networks, Inc. has a 12-month low of $10.57 and a 12-month high of $32.73. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The firm has a market cap of $1.44 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 3.83 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The firm had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. Sell-side analysts forecast that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In other news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the transaction, the chief executive officer now directly owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EXTR shares. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TheStreet cut shares of Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Needham & Company LLC dropped their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. Finally, B. Riley raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Monday, April 15th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.36.

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.