Rhumbline Advisers trimmed its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 329,008 shares of the technology company’s stock after selling 1,499 shares during the quarter. Rhumbline Advisers owned 0.28% of Extreme Networks worth $2,464,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in EXTR. Acadian Asset Management LLC bought a new stake in Extreme Networks in the fourth quarter worth $25,000. Meeder Asset Management Inc. boosted its holdings in Extreme Networks by 438.4% in the first quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock worth $26,000 after acquiring an additional 2,823 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Extreme Networks in the fourth quarter worth $45,000. PNC Financial Services Group Inc. boosted its holdings in Extreme Networks by 384.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,292 shares of the technology company’s stock worth $57,000 after acquiring an additional 7,372 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Extreme Networks in the fourth quarter worth $61,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

EXTR has been the topic of several analyst reports. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Zacks Investment Research downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Shares of NASDAQ:EXTR opened at $5.41 on Tuesday. The firm has a market cap of $668.59 million, a PE ratio of 12.30, a price-to-earnings-growth ratio of 4.73 and a beta of 1.56. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.10 and a current ratio of 1.29. Extreme Networks, Inc has a 1 year low of $4.81 and a 1 year high of $9.35.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $250.90 million for the quarter, compared to the consensus estimate of $253.49 million. Extreme Networks had a positive return on equity of 26.15% and a negative net margin of 1.41%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. On average, research analysts predict that Extreme Networks, Inc will post 0.09 earnings per share for the current fiscal year.

In other news, insider Edward Meyercord sold 15,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.49, for a total transaction of $112,350.00. Following the transaction, the insider now directly owns 547,692 shares of the company’s stock, valued at $4,102,213.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.45% of the company’s stock.

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Extreme Networks Company Profile

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.

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

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