Meritage Portfolio Management Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Meritage Portfolio Management increased its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 193.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,200 shares of the technology company’s stock after buying an additional 23,859 shares during the quarter. Meritage Portfolio Management’s holdings in Extreme Networks were worth $639,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Extreme Networks by 17.0% during the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after buying an additional 1,877,727 shares during the period. Raymond James & Associates raised its holdings in shares of Extreme Networks by 4.1% during the 4th quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after acquiring an additional 21,203 shares during the period. Pacer Advisors Inc. boosted its position in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after acquiring an additional 3,407,064 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in Extreme Networks during the fourth quarter worth about $1,613,000. Finally, Loomis Sayles & Co. L P purchased a new position in Extreme Networks during the third quarter worth about $31,284,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

EXTR stock traded up $0.31 on Friday, reaching $11.64. 1,037,176 shares of the company’s stock were exchanged, compared to its average volume of 2,036,297. Extreme Networks, Inc. has a twelve month low of $10.57 and a twelve month high of $32.73. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The stock has a fifty day moving average of $11.61 and a 200-day moving average of $15.32. The firm has a market cap of $1.50 billion, a PE ratio of 18.88, a P/E/G ratio of 3.98 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction dated Thursday, February 1st. The shares were 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 in the company, valued at $14,956,049.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

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.