MetLife Investment Advisors LLC trimmed its position in Extreme Networks, Inc (NASDAQ:EXTR) by 36.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,414 shares of the technology company’s stock after selling 28,552 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Extreme Networks were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Extreme Networks by 449.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,181 shares of the technology company’s stock valued at $1,235,000 after purchasing an additional 184,184 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Extreme Networks by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,463,932 shares of the technology company’s stock valued at $8,023,000 after purchasing an additional 63,343 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Extreme Networks by 2.6% during the 3rd quarter. BlackRock Inc. now owns 16,383,752 shares of the technology company’s stock valued at $89,782,000 after purchasing an additional 420,188 shares in the last quarter. FMR LLC boosted its stake in shares of Extreme Networks by 4.3% during the 3rd quarter. FMR LLC now owns 3,526,720 shares of the technology company’s stock valued at $19,326,000 after purchasing an additional 145,520 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Extreme Networks by 198.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 748,189 shares of the technology company’s stock valued at $4,100,000 after purchasing an additional 497,180 shares in the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.
EXTR has been the topic of a number of research reports. DA Davidson set a $13.00 target price on shares of Extreme Networks and gave the company a “buy” rating in a research note on Monday, January 14th. Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. ValuEngine lowered shares of Extreme Networks from a “hold” rating to a “sell” rating in a research note on Friday, December 21st. Finally, BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.00.
NASDAQ:EXTR opened at $7.87 on Wednesday. Extreme Networks, Inc has a one year low of $4.81 and a one year high of $11.76. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.04 and a current ratio of 1.23. The stock has a market cap of $892.04 million, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 2.02 and a beta of 1.24.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, January 29th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. Extreme Networks had a negative net margin of 2.04% and a positive return on equity of 36.26%. The business had revenue of $252.70 million for the quarter, compared to analyst estimates of $244.45 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Extreme Networks’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Extreme Networks, Inc will post 0.27 EPS for the current fiscal year.
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Extreme Networks Profile
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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