Teacher Retirement System of Texas Makes New $268,000 Investment in Extreme Networks, Inc. (NASDAQ:EXTR)

Teacher Retirement System of Texas acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,280 shares of the technology company's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in Extreme Networks by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock valued at $361,000 after buying an additional 4,610 shares in the last quarter. GAMMA Investing LLC increased its position in Extreme Networks by 2,619.8% during the 1st quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company's stock valued at $555,000 after purchasing an additional 40,397 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Extreme Networks by 24.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company's stock worth $4,976,000 after acquiring an additional 57,810 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Extreme Networks by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock worth $51,385,000 after buying an additional 49,888 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Extreme Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after purchasing an additional 690,262 shares during the period. 91.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EXTR shares. Rosenblatt Securities raised their price objective on Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 13th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. UBS Group lowered their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Lake Street Capital cut their price objective on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.92.

Extreme Networks Stock Up 0.5%

Shares of Extreme Networks stock traded up $0.10 on Monday, hitting $17.62. The company had a trading volume of 494,010 shares, compared to its average volume of 1,207,802. The firm has a market capitalization of $2.35 billion, a P/E ratio of -42.96, a P/E/G ratio of 2.06 and a beta of 1.73. The stock has a 50-day moving average of $16.87 and a 200-day moving average of $15.41. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.93 and a quick ratio of 0.70.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The firm's revenue was up 34.8% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. Research analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Extreme Networks

In related news, Director Raj Khanna sold 7,973 shares of Extreme Networks stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $17.20, for a total value of $137,135.60. Following the completion of the sale, the director directly owned 233,735 shares in the company, valued at approximately $4,020,242. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total value of $650,552.25. Following the completion of the transaction, the chief executive officer directly owned 1,541,282 shares in the company, valued at $28,066,745.22. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,450 shares of company stock valued at $1,313,523. 3.70% of the stock is owned by corporate insiders.

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.