Teacher Retirement System of Texas Purchases New Shares in Extreme Networks, Inc. (NASDAQ:EXTR)

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

Several other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in Extreme Networks in the fourth quarter worth $200,000. Raymond James Financial Inc. acquired a new stake in Extreme Networks in the fourth quarter worth $8,291,000. Swiss National Bank grew its holdings in Extreme Networks by 2.6% in the fourth quarter. Swiss National Bank now owns 259,700 shares of the technology company's stock worth $4,347,000 after purchasing an additional 6,500 shares during the period. Natixis Advisors LLC grew its holdings in Extreme Networks by 12.6% in the fourth quarter. Natixis Advisors LLC now owns 16,801 shares of the technology company's stock worth $281,000 after purchasing an additional 1,874 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in Extreme Networks in the fourth quarter worth $202,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Extreme Networks Trading Up 0.7%

NASDAQ:EXTR traded up $0.13 during midday trading on Wednesday, reaching $17.86. 1,336,076 shares of the stock traded hands, compared to its average volume of 1,210,369. The company has a fifty day moving average of $16.98 and a 200 day moving average of $15.45. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $19.24. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.70 and a current ratio of 0.93. The stock has a market capitalization of $2.38 billion, a P/E ratio of -43.56, a PEG ratio of 2.09 and a beta of 1.73.

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

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $18.21, for a total value of $650,552.25. Following the transaction, the chief executive officer directly owned 1,541,282 shares in the company, valued at approximately $28,066,745.22. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 7,973 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $17.20, for a total transaction of $137,135.60. Following the completion of the transaction, the director owned 233,735 shares in the company, valued at approximately $4,020,242. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,450 shares of company stock worth $1,313,523 in the last three months. Insiders own 3.70% 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.