Harvest Fund Management Co. Ltd Increases Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Harvest Fund Management Co. Ltd increased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 66.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,227 shares of the technology company’s stock after buying an additional 2,481 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Extreme Networks were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. purchased a new position in Extreme Networks during the third quarter worth approximately $37,000. Handelsbanken Fonder AB raised its holdings in shares of Extreme Networks by 26.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,100 shares of the technology company’s stock worth $559,000 after acquiring an additional 4,900 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Extreme Networks in the third quarter valued at about $549,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Extreme Networks in the third quarter valued at about $339,000. Finally, Raymond James & Associates increased its position in Extreme Networks by 19.1% during the third quarter. Raymond James & Associates now owns 518,825 shares of the technology company’s stock worth $12,561,000 after purchasing an additional 83,211 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Up 1.6 %

Extreme Networks stock opened at $11.33 on Friday. The stock has a 50 day moving average of $11.61 and a two-hundred day moving average of $15.32. Extreme Networks, Inc. has a twelve month low of $10.57 and a twelve month high of $32.73. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.98 and a beta of 1.90. 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 (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The firm 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%. As a group, research analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

EXTR has been the topic of a number of recent analyst reports. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. B. Riley raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Monday, April 15th. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, Needham & Company LLC decreased their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating on the stock in a report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.36.

Insider Buying and Selling at Extreme Networks

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