Legato Capital Management LLC Purchases 74,758 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Legato Capital Management LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 225.2% in the 4th quarter, HoldingsChannel reports. The firm owned 107,948 shares of the technology company’s stock after acquiring an additional 74,758 shares during the quarter. Legato Capital Management LLC’s holdings in Extreme Networks were worth $1,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in Extreme Networks during the third quarter worth about $26,000. Byrne Asset Management LLC bought a new position in shares of Extreme Networks in the fourth quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Extreme Networks by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Extreme Networks by 146.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after acquiring an additional 2,935 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In related news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the transaction, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,725 shares of company stock valued at $713,608 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Extreme Networks Trading Up 0.3 %

Shares of EXTR stock opened at $15.58 on Wednesday. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $19.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The firm has a 50 day moving average of $17.03 and a 200-day moving average of $15.70.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Sell-side analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on EXTR. Lake Street Capital increased their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research note on Friday, February 7th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.30.

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.