Duality Advisers LP Buys New Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Duality Advisers LP purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 53,025 shares of the technology company’s stock, valued at approximately $935,000.

Other large investors also recently added to or reduced their stakes in the company. Meritage Portfolio Management boosted its holdings in Extreme Networks by 5.5% in the 3rd quarter. Meritage Portfolio Management now owns 12,341 shares of the technology company’s stock worth $299,000 after buying an additional 638 shares during the last quarter. Westover Capital Advisors LLC raised its position in shares of Extreme Networks by 0.4% during the 3rd quarter. Westover Capital Advisors LLC now owns 161,860 shares of the technology company’s stock valued at $3,919,000 after buying an additional 716 shares during the period. Nordea Investment Management AB increased its stake in Extreme Networks by 0.3% during the third quarter. Nordea Investment Management AB now owns 228,483 shares of the technology company’s stock worth $5,596,000 after acquiring an additional 779 shares during the last quarter. Handelsbanken Fonder AB raised its position in Extreme Networks by 3.9% in the fourth quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock valued at $423,000 after purchasing an additional 900 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Extreme Networks by 2.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 55,274 shares of the technology company’s stock worth $1,338,000 after purchasing an additional 1,374 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on EXTR. TheStreet lowered Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. B. Riley upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Monday, April 15th. Rosenblatt Securities lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. Finally, UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.36.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $11.09 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. Extreme Networks, Inc. has a 12 month low of $10.57 and a 12 month high of $32.73. The company has a market cap of $1.43 billion, a P/E ratio of 18.48, a PEG ratio of 3.83 and a beta of 1.90. The firm has a fifty day moving average price of $11.65 and a 200 day moving average price of $15.38.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $296.38 million during the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. Sell-side analysts predict that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the completion of the transaction, the chief executive officer now owns 1,129,611 shares in the company, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is owned by company insiders.

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.