MetLife Investment Advisors LLC acquired a new stake in Extreme Networks (NASDAQ:EXTR) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 50,414 shares of the technology company’s stock, valued at approximately $631,000.
Several other hedge funds also recently modified their holdings of EXTR. TIAA CREF Investment Management LLC raised its stake in shares of Extreme Networks by 181.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,809,162 shares of the technology company’s stock valued at $47,691,000 after acquiring an additional 2,453,458 shares in the last quarter. Copper Rock Capital Partners LLC bought a new position in Extreme Networks in the 4th quarter worth approximately $24,503,000. Allianz Asset Management GmbH increased its position in Extreme Networks by 811.5% in the 4th quarter. Allianz Asset Management GmbH now owns 933,210 shares of the technology company’s stock worth $11,684,000 after buying an additional 830,833 shares during the period. AXA increased its position in Extreme Networks by 3,113.4% in the 4th quarter. AXA now owns 511,900 shares of the technology company’s stock worth $6,409,000 after buying an additional 495,970 shares during the period. Finally, Boston Advisors LLC increased its position in Extreme Networks by 564.4% in the 4th quarter. Boston Advisors LLC now owns 487,960 shares of the technology company’s stock worth $6,109,000 after buying an additional 414,520 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.
EXTR has been the topic of several recent analyst reports. BidaskClub downgraded Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 16th. Zacks Investment Research downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. JMP Securities initiated coverage on Extreme Networks in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $16.00 price target on the stock. Cowen initiated coverage on Extreme Networks in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, DA Davidson lifted their price target on Extreme Networks from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $15.92.
Shares of NASDAQ EXTR opened at $10.85 on Wednesday. The company has a market capitalization of $1,202.24, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.60. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 1.44. Extreme Networks has a 12 month low of $7.15 and a 12 month high of $15.55.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $231.12 million for the quarter, compared to analysts’ expectations of $241.49 million. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. Extreme Networks’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. research analysts forecast that Extreme Networks will post 0.52 earnings per share for the current fiscal year.
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Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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.
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