Extreme Networks, Inc (NASDAQ:EXTR) Shares Bought by State of Tennessee Treasury Department

State of Tennessee Treasury Department raised its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 17.5% in the third quarter, HoldingsChannel.com reports. The fund owned 132,563 shares of the technology company’s stock after purchasing an additional 19,769 shares during the quarter. State of Tennessee Treasury Department’s holdings in Extreme Networks were worth $965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ellington Management Group LLC grew its holdings in Extreme Networks by 7.5% in the 2nd quarter. Ellington Management Group LLC now owns 33,100 shares of the technology company’s stock valued at $214,000 after buying an additional 2,300 shares during the period. Bank of America Corp DE grew its holdings in Extreme Networks by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 228,009 shares of the technology company’s stock valued at $1,475,000 after buying an additional 2,324 shares during the period. Tyers Asset Management LLC grew its holdings in Extreme Networks by 28.8% in the 2nd quarter. Tyers Asset Management LLC now owns 13,792 shares of the technology company’s stock valued at $89,000 after buying an additional 3,088 shares during the period. Riverhead Capital Management LLC grew its holdings in Extreme Networks by 28.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 15,200 shares of the technology company’s stock valued at $98,000 after buying an additional 3,400 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Extreme Networks by 8.1% in the 3rd quarter. New York State Teachers Retirement System now owns 50,794 shares of the technology company’s stock valued at $370,000 after buying an additional 3,800 shares during the period. 78.82% of the stock is owned by institutional investors.

Shares of NASDAQ:EXTR opened at $6.66 on Thursday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.86 and a current ratio of 1.06. Extreme Networks, Inc has a 1 year low of $5.09 and a 1 year high of $8.59. The stock has a market capitalization of $826.65 million, a P/E ratio of 68.00 and a beta of 1.66. The stock has a 50-day simple moving average of $7.12 and a 200-day simple moving average of $6.84.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. Extreme Networks had a positive return on equity of 10.49% and a negative net margin of 5.39%. The business had revenue of $255.51 million during the quarter, compared to analysts’ expectations of $253.26 million. During the same quarter in the previous year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts predict that Extreme Networks, Inc will post 0.36 earnings per share for the current year.

In other news, CRO Robert J. Gault sold 39,584 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.73, for a total transaction of $305,984.32. Following the completion of the sale, the executive now owns 294,797 shares in the company, valued at approximately $2,278,780.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is currently owned by insiders.

EXTR has been the subject of several recent analyst reports. BidaskClub cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Lake Street Capital initiated coverage on Extreme Networks in a report on Monday, July 29th. They issued a “buy” rating and a $9.00 price target for the company. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, ValuEngine upgraded Extreme Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.00.

About Extreme Networks

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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