Algert Global buys $3,585,298 stake in Extreme Networks Inc (EXTR)

Extreme Networks Inc (EXTR) : Algert Global scooped up 154,627 additional shares in Extreme Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 808,410 shares of Extreme Networks Inc which is valued at $3,585,298.Extreme Networks Inc makes up approximately 1.05% of Algert Global’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc reduced its stake in EXTR by selling 1,997 shares or 9.77% in the most recent quarter. The Hedge Fund company now holds 18,438 shares of EXTR which is valued at $81,773. Cutler Group Lp sold out all of its stake in EXTR during the most recent quarter. The investment firm sold 594 shares of EXTR which is valued $2,762. Simplex Trading sold out all of its stake in EXTR during the most recent quarter. The investment firm sold 733 shares of EXTR which is valued $3,364.Bnp Paribas Arbitrage Sa boosted its stake in EXTR in the latest quarter, The investment management firm added 3,001 additional shares and now holds a total of 7,006 shares of Extreme Networks Inc which is valued at $32,508.

Extreme Networks Inc closed down -0.215 points or -4.62% at $4.435 with 3,92,216 shares getting traded on Tuesday. Post opening the session at $4.62, the shares hit an intraday low of $4.41 and an intraday high of $4.66 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Extreme Networks Inc reported $0.10 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.10. The company had revenue of $140.00 million for the quarter, compared to analysts expectations of $142.19 million. The company’s revenue was down -7.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Extreme Networks Inc. Company shares were Reiterated by Needham on Sep 19, 2016 to “Buy”, Firm has raised the Price Target to $ 4.75 from a previous price target of $4.30 .Company shares were Reiterated by Wunderlich on Sep 15, 2016 to “Buy”, Firm has raised the Price Target to $ 6 from a previous price target of $5 .DA Davidson Upgraded Extreme Networks Inc on Sep 15, 2016 to ” Buy”, Price Target of the shares are set at $5.

Extreme Networks Inc. together with its subsidiaries is a provider of wired and wireless network infrastructure equipment software and services for enterprises data centers and service providers. The Company sells its products through an ecosystem of the Company channel partners who combine its Ethernet products with their offerings to create information technology solutions for end user customers. Its product categories include modular Ethernet switching systems stackable Ethernet switching systems high-density wireless fidelity (WiFi) centralized management software network access control (NAC) and bring your own device (BYOD) management application analytics and software-defined networking (SDN). The Company’s customers include businesses hospitals hotels universities sports venues telecommunications companies and government agencies around the world.

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