State Board of Administration of Florida Retirement System Buys 9,866 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Posted by Defense World Staff on Sep 21st, 2023

State Board of Administration of Florida Retirement System boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR – Free Report) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,244 shares of the technology company’s stock after purchasing an additional 9,866 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Extreme Networks were worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EXTR. Voss Capital LLC increased its stake in shares of Extreme Networks by 67.2% in the first quarter. Voss Capital LLC now owns 5,800,000 shares of the technology company’s stock worth $110,896,000 after purchasing an additional 2,331,613 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Extreme Networks by 24.0% in the first quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after acquiring an additional 2,141,000 shares during the period. Boston Partners purchased a new position in shares of Extreme Networks in the first quarter valued at $34,506,000. Pacer Advisors Inc. raised its stake in shares of Extreme Networks by 1,039,205.6% during the 1st quarter. Pacer Advisors Inc. now owns 935,375 shares of the technology company’s stock valued at $17,884,000 after purchasing an additional 935,285 shares during the period. Finally, Braun Stacey Associates Inc. boosted its stake in Extreme Networks by 75.1% in the 1st quarter. Braun Stacey Associates Inc. now owns 2,015,200 shares of the technology company’s stock worth $38,531,000 after purchasing an additional 864,100 shares during the period. 86.95% of the stock is owned by institutional investors.

Extreme Networks Price Performance

Shares of Extreme Networks stock opened at $24.24 on Thursday. The business’s 50-day moving average price is $27.52 and its 200-day moving average price is $22.60. The firm has a market capitalization of $3.14 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 1.23 and a beta of 2.04. Extreme Networks, Inc. has a 12 month low of $12.09 and a 12 month high of $32.73. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 1.61.

Extreme Networks (NASDAQ:EXTR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $363.91 million for the quarter, compared to analysts’ expectations of $344.85 million. Extreme Networks had a net margin of 5.95% and a return on equity of 95.31%. Sell-side analysts forecast that Extreme Networks, Inc. will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several recent analyst reports. Craig Hallum boosted their price objective on shares of Extreme Networks from $17.50 to $29.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of Extreme Networks in a research report on Monday. Lake Street Capital lifted their price objective on Extreme Networks from $27.00 to $33.00 in a research note on Wednesday, August 2nd. StockNews.com initiated coverage on Extreme Networks in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, B. Riley downgraded Extreme Networks from a “buy” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $30.00 in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and a consensus price target of $30.71.

Check Out Our Latest Stock Report on EXTR

Insider Buying and Selling

In other Extreme Networks news, CRO Joseph A. Vitalone sold 45,090 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $23.71, for a total transaction of $1,069,083.90. Following the completion of the sale, the executive now directly owns 107,804 shares in the company, valued at $2,556,032.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.16% of the stock is owned by corporate insiders.

About Extreme Networks

(Free Report)

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.