Alliancebernstein L.P. lowered its holdings in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,834,917 shares of the technology company’s stock after selling 324,920 shares during the quarter. Alliancebernstein L.P. owned 1.59% of Extreme Networks worth $22,973,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Extreme Networks during the third quarter worth about $116,000. Suntrust Banks Inc. acquired a new stake in shares of Extreme Networks during the fourth quarter worth about $128,000. Financial Gravity Companies Inc. acquired a new stake in shares of Extreme Networks during the fourth quarter worth about $146,000. Sei Investments Co. acquired a new stake in shares of Extreme Networks during the third quarter worth about $161,000. Finally, Atria Investments LLC acquired a new stake in shares of Extreme Networks during the fourth quarter worth about $165,000. 79.46% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on EXTR. Zacks Investment Research lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, March 14th. Cowen reaffirmed a “buy” rating and set a $18.00 price target on shares of Extreme Networks in a research report on Wednesday, February 7th. DA Davidson raised 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. Finally, ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Extreme Networks currently has a consensus rating of “Buy” and an average target price of $16.25.
Shares of Extreme Networks, Inc (NASDAQ:EXTR) opened at $12.44 on Tuesday. Extreme Networks, Inc has a 1 year low of $6.29 and a 1 year high of $15.55. The stock has a market capitalization of $1,461.59, a P/E ratio of -69.11, a P/E/G ratio of 1.43 and a beta of 1.54. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 0.89.
Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The business had revenue of $231.12 million for the quarter, compared to analyst estimates of $241.49 million. During the same quarter last year, the firm earned $0.12 EPS. Extreme Networks’s revenue for the quarter was up 47.8% compared to the same quarter last year. equities analysts expect that Extreme Networks, Inc will post 0.52 earnings per share for the current year.
About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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