ABS Direct Equity Fund LLC Takes $1.76 Million Position in Extreme Networks, Inc. (NASDAQ:EXTR)

ABS Direct Equity Fund LLC purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 100,000 shares of the technology company's stock, valued at approximately $1,764,000. Extreme Networks makes up approximately 1.7% of ABS Direct Equity Fund LLC's holdings, making the stock its 24th biggest holding. ABS Direct Equity Fund LLC owned approximately 0.08% of Extreme Networks at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXTR. Vanguard Group Inc. lifted its position in shares of 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. Raymond James & Associates boosted its stake in Extreme Networks by 4.1% during the 4th quarter. Raymond James & Associates now owns 540,028 shares of the technology company's stock worth $9,526,000 after purchasing an additional 21,203 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Extreme Networks by 167,176.8% during 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 last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Extreme Networks during the fourth quarter worth $1,613,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Extreme Networks in the third quarter valued at about $31,284,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXTR has been the subject of several research reports. TheStreet cut shares of Extreme Networks from a "b-" rating to a "c+" rating in a research note on Tuesday, February 20th. Craig Hallum cut their price target on Extreme Networks from $15.00 to $13.00 and set a "hold" rating for the company in a report on Thursday. UBS Group lowered Extreme Networks from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. B. Riley upped their target price on Extreme Networks from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday. Finally, StockNews.com lowered Extreme Networks from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.50.

Extreme Networks Trading Down 1.9 %

Shares of NASDAQ:EXTR traded down $0.22 during midday trading on Friday, reaching $11.20. 4,770,165 shares of the company's stock were exchanged, compared to its average volume of 2,162,929. The firm's 50 day simple moving average is $11.52 and its two-hundred day simple moving average is $14.69. Extreme Networks, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $32.73. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.74. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -160.00, a P/E/G ratio of 3.99 and a beta of 1.88.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). The company had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. As a group, sell-side analysts forecast that Extreme Networks, Inc. will post 0.17 EPS for the current fiscal year.

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.