Legato Capital Management LLC Grows Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Legato Capital Management LLC increased its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 225.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,948 shares of the technology company's stock after buying an additional 74,758 shares during the period. Legato Capital Management LLC owned 0.08% of Extreme Networks worth $1,807,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EXTR. Quarry LP acquired a new stake in shares of Extreme Networks in the 3rd quarter valued at about $26,000. GAMMA Investing LLC lifted its position in Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock valued at $30,000 after acquiring an additional 1,035 shares in the last quarter. Byrne Asset Management LLC bought a new position in Extreme Networks in the 4th quarter valued at about $30,000. Pacer Advisors Inc. lifted its position in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after acquiring an additional 741 shares in the last quarter. Finally, KBC Group NV lifted its position in Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after acquiring an additional 1,745 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the transaction, the director now owns 366,793 shares of the company's stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,725 shares of company stock valued at $713,608. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

EXTR has been the topic of several recent research reports. Lake Street Capital raised their price target on shares of Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $22.00 price target on shares of Extreme Networks in a research report on Friday, February 7th. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Craig Hallum raised their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average target price of $20.30.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded up $0.45 during mid-day trading on Friday, hitting $16.38. 1,247,967 shares of the stock were exchanged, compared to its average volume of 1,063,454. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $19.24. The company has a 50-day simple moving average of $16.89 and a 200 day simple moving average of $15.73. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $2.17 billion, a P/E ratio of -17.43, a P/E/G ratio of 2.99 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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.