Smith Group Asset Management LLC Takes $1.07 Million Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Smith Group Asset Management LLC acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 64,000 shares of the technology company's stock, valued at approximately $1,071,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its stake 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 acquiring an additional 3,399,288 shares in the last quarter. Portolan Capital Management LLC grew its position in Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock valued at $15,944,000 after purchasing an additional 700,724 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Extreme Networks by 265.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company's stock valued at $9,839,000 after buying an additional 531,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Extreme Networks by 57.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after buying an additional 269,459 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Extreme Networks by 61.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company's stock worth $9,270,000 after buying an additional 261,322 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Insider Transactions at Extreme Networks

In related news, Director Charles Carinalli sold 5,000 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of the sale, the director now directly owns 371,793 shares in the company, valued at $5,970,995.58. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Stock Performance

EXTR stock traded up $0.21 during midday trading on Friday, reaching $15.81. 1,307,520 shares of the company were exchanged, compared to its average volume of 831,524. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $19.24. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -16.82, a price-to-earnings-growth ratio of 3.44 and a beta of 1.75. The business has a 50-day moving average price of $17.18 and a two-hundred day moving average price of $15.62. 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 earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 117.77% and a negative net margin of 11.98%. Equities research analysts forecast that Extreme Networks, Inc. will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of recent research reports. Rosenblatt Securities lifted their target price on Extreme Networks from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday. Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research note on Thursday, October 31st. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Lake Street Capital boosted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday. Finally, B. Riley increased their price target on shares of Extreme Networks from $18.00 to $21.00 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 five have given a buy rating to the company. According to MarketBeat, Extreme Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

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.