New York State Teachers Retirement System Cuts Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

New York State Teachers Retirement System cut its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 20.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,709 shares of the technology company’s stock after selling 25,151 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Extreme Networks worth $1,116,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Swiss National Bank boosted its holdings in shares of Extreme Networks by 0.8% in the 3rd quarter. Swiss National Bank now owns 283,500 shares of the technology company’s stock valued at $6,864,000 after purchasing an additional 2,300 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Extreme Networks in the 3rd quarter valued at $223,000. Janney Montgomery Scott LLC acquired a new position in shares of Extreme Networks in the 3rd quarter valued at $219,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Extreme Networks by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,154,535 shares of the technology company’s stock valued at $27,951,000 after purchasing an additional 25,104 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Extreme Networks in the 3rd quarter valued at $312,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXTR has been the topic of several recent research reports. TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. B. Riley lifted their price target on shares of Extreme Networks from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Rosenblatt Securities raised shares of Extreme Networks from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $17.00 in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research note on Monday. Finally, Craig Hallum raised shares of Extreme Networks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $14.00 in a research note on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.64.

Extreme Networks Stock Performance

Extreme Networks stock traded up $0.21 during midday trading on Tuesday, reaching $12.07. 1,537,455 shares of the stock traded hands, compared to its average volume of 2,122,733. The firm has a fifty day moving average price of $11.22 and a two-hundred day moving average price of $13.41. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -172.43, a PEG ratio of 8.51 and a beta of 1.78. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $32.73. The company has a current ratio of 0.96, a quick ratio of 0.61 and a debt-to-equity ratio of 2.78.

Extreme Networks (NASDAQ:EXTR) last released 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). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The business had revenue of $211.04 million during the quarter, compared to the consensus estimate of $207.80 million. On average, equities research analysts forecast that Extreme Networks, Inc. will post 0.08 earnings per share for the current 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.