State Street Corp Buys 49,905 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

State Street Corp raised its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,134,008 shares of the technology company’s stock after purchasing an additional 49,905 shares during the quarter. State Street Corp owned 3.89% of Extreme Networks worth $77,164,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EXTR. Nisa Investment Advisors LLC boosted its holdings in shares of Extreme Networks by 9,654.6% during the second quarter. Nisa Investment Advisors LLC now owns 323,949 shares of the technology company’s stock worth $4,357,000 after purchasing an additional 320,628 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Extreme Networks in the 2nd quarter worth approximately $148,000. Louisiana State Employees Retirement System increased its stake in shares of Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after buying an additional 1,600 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Extreme Networks by 27.0% during the second quarter. Raymond James Trust N.A. now owns 25,100 shares of the technology company’s stock valued at $338,000 after acquiring an additional 5,331 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Extreme Networks by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 3,572 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

EXTR has been the subject of several research reports. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. B. Riley increased their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum lifted their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Down 2.2 %

Shares of NASDAQ EXTR opened at $18.12 on Wednesday. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $18.67. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The firm has a 50-day moving average of $16.05 and a 200 day moving average of $14.57. The stock has a market cap of $2.39 billion, a P/E ratio of -18.70, a price-to-earnings-growth ratio of 3.87 and a beta of 1.76.

Insider Activity

In other news, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 directly owns 366,793 shares in the company, valued at $6,125,443.10. This trade represents a 1.34 % 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 company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,450 shares of company stock worth $1,390,490. Insiders own 3.70% of the company’s stock.

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.