Illinois Municipal Retirement Fund Decreases Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,461 shares of the technology company’s stock after selling 1,471 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Extreme Networks worth $1,331,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EXTR. Meritage Portfolio Management boosted its position in shares of Extreme Networks by 5.5% during the third quarter. Meritage Portfolio Management now owns 12,341 shares of the technology company’s stock valued at $299,000 after buying an additional 638 shares during the last quarter. Westover Capital Advisors LLC boosted its holdings in shares of Extreme Networks by 0.4% during the 3rd quarter. Westover Capital Advisors LLC now owns 161,860 shares of the technology company’s stock valued at $3,919,000 after acquiring an additional 716 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Extreme Networks by 0.3% in the third quarter. Nordea Investment Management AB now owns 228,483 shares of the technology company’s stock worth $5,596,000 after acquiring an additional 779 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Extreme Networks by 3.9% during the fourth quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock valued at $423,000 after purchasing an additional 900 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in shares of Extreme Networks by 2.5% during the third quarter. SkyView Investment Advisors LLC now owns 55,274 shares of the technology company’s stock valued at $1,338,000 after purchasing an additional 1,374 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Price Performance

NASDAQ EXTR opened at $11.60 on Friday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 4.04 and a beta of 1.90. Extreme Networks, Inc. has a 12 month low of $10.57 and a 12 month high of $32.73. The company’s 50 day moving average is $11.60 and its two-hundred day moving average is $15.17. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69.

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

Insider Activity

In related news, CEO Edward Meyercord sold 28,443 shares of the 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 completion of the sale, the chief executive officer now owns 1,129,611 shares in the company, valued at $14,956,049.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EXTR. Needham & Company LLC cut their target price on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research report on Thursday, February 1st. Rosenblatt Securities cut Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $15.00 in a research report on Thursday, February 1st. B. Riley raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Monday, April 15th. UBS Group lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. Finally, StockNews.com downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Hold” and an average target price of $22.36.

Extreme Networks 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.