Lyell Wealth Management LP Boosts Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Lyell Wealth Management LP raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 556,016 shares of the technology company’s stock after buying an additional 11,466 shares during the quarter. Lyell Wealth Management LP owned about 0.43% of Extreme Networks worth $9,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in Extreme Networks during the third quarter worth about $37,000. Tucker Asset Management LLC bought a new stake in Extreme Networks during the third quarter worth about $41,000. Allworth Financial LP lifted its stake in Extreme Networks by 4,924.4% during the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after purchasing an additional 2,019 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Extreme Networks during the third quarter worth about $91,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Extreme Networks by 53.1% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,380 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at approximately $14,956,049.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is currently owned by corporate insiders.

Extreme Networks Trading Up 0.5 %

EXTR traded up $0.06 during midday trading on Wednesday, reaching $11.15. 1,555,302 shares of the company’s stock traded hands, compared to its average volume of 2,054,124. The firm has a fifty day moving average of $11.63 and a two-hundred day moving average of $15.35. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 3.83 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. Extreme Networks, Inc. has a 52 week low of $10.57 and a 52 week high of $32.73.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EXTR shares. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TheStreet lowered Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Needham & Company LLC lowered their target price on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, February 1st. Rosenblatt Securities lowered Extreme Networks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. Finally, B. Riley raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, April 15th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.36.

Extreme Networks Profile

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.