Acadian Asset Management LLC grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR – Free Report) by 229.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 75,400 shares of the technology company’s stock after buying an additional 52,492 shares during the period. Acadian Asset Management LLC owned approximately 0.06% of Extreme Networks worth $1,438,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Capital Research Global Investors raised its position in 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 purchasing an additional 2,141,000 shares in the last quarter. Boston Partners acquired a new position in Extreme Networks in the first quarter worth about $34,506,000. Pacer Advisors Inc. raised its position in Extreme Networks by 1,039,205.6% in the first quarter. Pacer Advisors Inc. now owns 935,375 shares of the technology company’s stock worth $17,884,000 after purchasing an additional 935,285 shares in the last quarter. Braun Stacey Associates Inc. raised its position in Extreme Networks by 75.1% in the first 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in Extreme Networks by 7.3% in the first quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock worth $147,332,000 after purchasing an additional 821,201 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.
Wall Street Analysts Forecast Growth
EXTR has been the subject of several recent research reports. Needham & Company LLC increased their price target on shares of Extreme Networks from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Oppenheimer began coverage on shares of Extreme Networks in a research note on Tuesday, June 27th. They set an “outperform” rating and a $35.00 price objective on the stock. Lake Street Capital upped their price objective on shares of Extreme Networks from $27.00 to $33.00 in a research note on Wednesday, August 2nd. Craig Hallum upped their price objective on shares of Extreme Networks from $17.50 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, StockNews.com began coverage on shares of Extreme Networks in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.71.
Extreme Networks Price Performance
EXTR opened at $27.14 on Friday. Extreme Networks, Inc. has a one year low of $12.09 and a one year high of $32.73. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.00 and a quick ratio of 0.85. The company’s 50 day simple moving average is $27.67 and its 200-day simple moving average is $22.02. The stock has a market capitalization of $3.53 billion, a P/E ratio of 46.79, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00.
Extreme Networks (NASDAQ:EXTR – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. Extreme Networks had a net margin of 5.95% and a return on equity of 95.31%. The business had revenue of $363.91 million for the quarter, compared to analysts’ expectations of $344.85 million. Sell-side analysts anticipate that Extreme Networks, Inc. will post 1.15 earnings per share for the current fiscal year.
About Extreme Networks
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.
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