Clearbridge Investments LLC Buys 13,045 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Clearbridge Investments LLC lifted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,776 shares of the technology company’s stock after purchasing an additional 13,045 shares during the period. Clearbridge Investments LLC owned 0.46% of Extreme Networks worth $6,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXTR. Handelsbanken Fonder AB boosted its holdings in Extreme Networks by 3.9% in the 4th quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock worth $423,000 after buying an additional 900 shares during the period. ProShare Advisors LLC raised its stake in Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after buying an additional 1,741 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Extreme Networks by 4,924.4% during the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after buying an additional 2,019 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Extreme Networks during the 1st quarter valued at about $27,000. Finally, Illinois Municipal Retirement Fund raised its position in Extreme Networks by 3.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 77,836 shares of the technology company’s stock worth $898,000 after buying an additional 2,375 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Stock Up 1.2 %

EXTR stock traded up $0.16 during trading on Thursday, reaching $13.84. 6,459 shares of the company’s stock were exchanged, compared to its average volume of 2,153,103. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $32.73. The company’s fifty day moving average price is $12.47 and its 200-day moving average price is $12.53. 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The company had revenue of $211.04 million during the quarter, compared to analysts’ expectations of $207.80 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. On average, sell-side analysts predict that Extreme Networks, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on EXTR shares. Needham & Company LLC restated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Monday, June 10th. Craig Hallum upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $14.00 in a report on Thursday, May 16th. B. Riley increased their target price on Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Rosenblatt Securities upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $17.00 in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

About Extreme Networks

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.