Nisa Investment Advisors LLC Sells 321,942 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Nisa Investment Advisors LLC lowered its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 99.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,007 shares of the technology company's stock after selling 321,942 shares during the quarter. Nisa Investment Advisors LLC's holdings in Extreme Networks were worth $30,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Aquila Investment Management LLC bought a new position in Extreme Networks in the 3rd quarter valued at $962,000. Allspring Global Investments Holdings LLC increased its stake in shares of Extreme Networks by 134.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company's stock valued at $176,000 after buying an additional 6,703 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Extreme Networks by 2.0% in the third quarter. Raymond James & Associates now owns 460,153 shares of the technology company's stock valued at $6,916,000 after buying an additional 9,217 shares during the last quarter. nVerses Capital LLC acquired a new position in Extreme Networks during the 3rd quarter worth about $179,000. Finally, Creative Planning grew its holdings in Extreme Networks by 32.1% during the 3rd quarter. Creative Planning now owns 21,140 shares of the technology company's stock worth $318,000 after acquiring an additional 5,133 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Trading Down 0.5 %

EXTR traded down $0.09 during trading on Friday, reaching $16.76. 1,616,802 shares of the company's stock were exchanged, compared to its average volume of 1,280,567. The company's fifty day moving average price is $14.95 and its 200-day moving average price is $13.52. The firm has a market capitalization of $2.21 billion, a PE ratio of -17.28, a P/E/G ratio of 3.58 and a beta of 1.77. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The company had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. During the same period last year, the firm earned $0.24 earnings per share. The firm's revenue for the quarter was down 29.5% on a year-over-year basis. As a group, equities analysts forecast that Extreme Networks, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at $21,363,575.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the sale, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,175 shares of company stock worth $1,763,279. Insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Extreme Networks from a "buy" rating to a "hold" rating in a research note on Saturday. Rosenblatt Securities restated a "buy" rating and issued a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Extreme Networks Company 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.