SG Americas Securities LLC Makes New Investment in Extreme Networks, Inc. (NASDAQ:EXTR)

SG Americas Securities LLC purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 49,785 shares of the technology company's stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Extreme Networks in the 3rd quarter worth about $651,000. Lisanti Capital Growth LLC increased its stake in Extreme Networks by 61.0% during the third quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company's stock valued at $2,938,000 after purchasing an additional 74,080 shares during the last quarter. Barclays PLC lifted its position in shares of Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after buying an additional 171,500 shares during the last quarter. Aquila Investment Management LLC acquired a new position in Extreme Networks in the third quarter valued at approximately $962,000. Finally, Victory Capital Management Inc. raised its position in shares of Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock worth $67,124,000 after purchasing an additional 3,399,288 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.

Extreme Networks Stock Down 1.1 %

Extreme Networks stock traded down $0.17 during trading hours on Thursday, hitting $15.60. The company had a trading volume of 1,983,842 shares, compared to its average volume of 979,650. The firm's fifty day moving average is $17.19 and its 200-day moving average is $15.59. The firm has a market capitalization of $2.06 billion, a P/E ratio of -16.08, a price-to-earnings-growth ratio of 3.76 and a beta of 1.75. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. On average, research analysts forecast that Extreme Networks, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the sale, the chief executive officer now directly owns 1,448,378 shares of the company's stock, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the transaction, the director now owns 366,793 shares of the company's stock, valued at approximately $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock worth $698,246 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EXTR shares. Lake Street Capital upped their price target on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday. Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a report on Thursday, October 31st. Rosenblatt Securities increased their price target on Extreme Networks from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday. B. Riley increased their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.25.

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.