Brooktree Capital Management Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Brooktree Capital Management grew its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 44.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,562 shares of the technology company’s stock after buying an additional 46,810 shares during the quarter. Extreme Networks accounts for approximately 2.2% of Brooktree Capital Management’s holdings, making the stock its 17th biggest holding. Brooktree Capital Management owned approximately 0.12% of Extreme Networks worth $2,674,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in Extreme Networks by 167,176.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after purchasing an additional 3,407,064 shares during the period. Vanguard Group Inc. boosted its stake in Extreme Networks by 17.0% in the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after acquiring an additional 1,877,727 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Extreme Networks during the third quarter worth $38,999,000. Fred Alger Management LLC acquired a new stake in shares of Extreme Networks during the third quarter worth $33,920,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Extreme Networks during the third quarter worth $31,284,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded up $0.29 during trading on Wednesday, hitting $11.49. 2,175,530 shares of the stock were exchanged, compared to its average volume of 2,065,737. The stock’s fifty day moving average is $11.57 and its 200 day moving average is $14.93. The stock has a market cap of $1.48 billion, a PE ratio of 18.17, a P/E/G ratio of 4.12 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. Extreme Networks, Inc. has a 12 month low of $10.57 and a 12 month high of $32.73.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The firm had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXTR. Needham & Company LLC cut their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. Rosenblatt Securities cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. UBS Group cut shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. TheStreet cut shares of Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.36.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the transaction, the chief executive officer now owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.32% of the company’s stock.

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.