Meritage Portfolio Management Raises Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Meritage Portfolio Management raised its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 193.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,200 shares of the technology company’s stock after purchasing an additional 23,859 shares during the quarter. Meritage Portfolio Management’s holdings in Extreme Networks were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after purchasing an additional 2,019 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Extreme Networks during the third quarter valued at approximately $37,000. Tucker Asset Management LLC purchased a new stake in shares of Extreme Networks during the third quarter valued at approximately $41,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extreme Networks during the third quarter valued at approximately $91,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Extreme Networks by 53.1% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company’s stock valued at $97,000 after acquiring an additional 1,380 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EXTR. Rosenblatt Securities downgraded Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $15.00 in a research report on Thursday, February 1st. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, Needham & Company LLC dropped their target price on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Hold” and a consensus target price of $22.36.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the completion of the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at approximately $14,956,049.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.32% of the stock is currently owned by company insiders.

Extreme Networks Stock Up 2.7 %

Shares of EXTR stock traded up $0.31 during mid-day trading on Friday, reaching $11.64. 1,037,176 shares of the company’s stock traded hands, compared to its average volume of 2,036,297. 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 company’s 50-day moving average price is $11.61 and its 200-day moving average price is $15.32. The company has a market cap of $1.50 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.98 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. On average, equities analysts expect that Extreme Networks, Inc. will post 0.17 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.