Clearbridge Investments LLC Boosts Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Clearbridge Investments LLC boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 85.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 585,731 shares of the technology company's stock after buying an additional 269,450 shares during the quarter. Clearbridge Investments LLC owned approximately 0.46% of Extreme Networks worth $10,332,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EXTR. Dynamic Technology Lab Private Ltd increased its stake in shares of Extreme Networks by 41.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 93,162 shares of the technology company's stock worth $1,643,000 after purchasing an additional 27,323 shares in the last quarter. Norges Bank bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $33,267,000. Navellier & Associates Inc. boosted its position in shares of Extreme Networks by 19.6% in the fourth quarter. Navellier & Associates Inc. now owns 52,177 shares of the technology company's stock valued at $920,000 after acquiring an additional 8,563 shares during the period. EFG Asset Management North America Corp. boosted its position in shares of Extreme Networks by 129.7% in the fourth quarter. EFG Asset Management North America Corp. now owns 58,099 shares of the technology company's stock valued at $1,026,000 after acquiring an additional 32,810 shares during the period. Finally, KLR Investment Advisors LLC bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $224,000. Institutional investors own 91.05% of the company's stock.

Extreme Networks Price Performance

Shares of EXTR stock traded up $0.09 during trading hours on Friday, hitting $11.15. 1,544,898 shares of the company's stock were exchanged, compared to its average volume of 2,701,989. The company has a market capitalization of $1.45 billion, a PE ratio of -159.29, a PEG ratio of 8.13 and a beta of 1.88. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $32.73. The business's 50 day simple moving average is $11.24 and its 200-day simple moving average is $13.88. The company has a current ratio of 0.96, a quick ratio of 0.61 and a debt-to-equity ratio of 2.78.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The business had revenue of $211.04 million for the quarter, compared to analysts' expectations of $207.80 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EXTR. StockNews.com lowered shares of Extreme Networks from a "buy" rating to a "hold" rating in a research report on Thursday, February 1st. Rosenblatt Securities upgraded shares of Extreme Networks from a "neutral" rating to a "buy" rating and raised their price objective for the company from $15.00 to $17.00 in a research report on Thursday, May 2nd. B. Riley lifted their target price on shares of Extreme Networks from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Craig Hallum upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating and lifted their target price for the company from $13.00 to $14.00 in a research report on Thursday, May 16th. Finally, TheStreet lowered shares of Extreme Networks from a "b-" rating to a "c+" rating in a research report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Extreme Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.64.

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.