Clearbridge Investments LLC Buys 269,450 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Clearbridge Investments LLC grew its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 85.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 585,731 shares of the technology company’s stock after purchasing an additional 269,450 shares during the period. Clearbridge Investments LLC owned about 0.46% of Extreme Networks worth $10,332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings 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 buying an additional 3,407,064 shares in the last quarter. Norges Bank purchased a new stake in shares of Extreme Networks in the fourth quarter worth about $33,267,000. 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 valued at $312,191,000 after buying an additional 1,877,727 shares in the last quarter. Fred Alger Management LLC bought a new position in Extreme Networks during the 3rd quarter worth approximately $33,920,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Extreme Networks in the third quarter worth $31,284,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded up $0.09 during midday trading on Friday, reaching $11.15. 1,544,898 shares of the stock traded hands, compared to its average volume of 2,701,989. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.61. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $32.73. The stock has a market capitalization of $1.45 billion, a PE ratio of -159.29, a P/E/G ratio of 8.13 and a beta of 1.88. The company’s 50 day moving average is $11.24 and its 200 day moving average is $13.88.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.06). Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. The firm had revenue of $211.04 million for the quarter, compared to analysts’ expectations of $207.80 million. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several recent analyst reports. 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 report on Thursday, February 1st. Rosenblatt Securities upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.00 to $17.00 in a research report on Thursday, May 2nd. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. B. Riley boosted their price objective on Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.64.

Extreme Networks Company 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.