Seven Eight Capital LP Has $1.64 Million Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Seven Eight Capital LP increased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 416.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,995 shares of the technology company’s stock after buying an additional 69,340 shares during the quarter. Seven Eight Capital LP owned about 0.07% of Extreme Networks worth $1,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in Extreme Networks during the first quarter worth $290,000. Stifel Financial Corp bought a new stake in Extreme Networks during the first quarter worth $407,000. BlackRock Inc. lifted its stake in Extreme Networks by 4.2% during the first quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company’s stock worth $356,903,000 after purchasing an additional 751,645 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its stake in Extreme Networks by 41.8% during the first quarter. BNP Paribas Arbitrage SNC now owns 176,454 shares of the technology company’s stock worth $3,374,000 after purchasing an additional 52,033 shares during the last quarter. Finally, Boulder Hill Capital Management LP bought a new stake in Extreme Networks during the first quarter worth $474,000. 86.95% of the stock is currently owned by institutional investors.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $25.64 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average price of $27.86 and a two-hundred day moving average price of $22.26. Extreme Networks, Inc. has a 1-year low of $12.09 and a 1-year high of $32.73. The company has a market cap of $3.33 billion, a P/E ratio of 44.21, a PEG ratio of 1.30 and a beta of 2.04.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Extreme Networks had a return on equity of 95.31% and a net margin of 5.95%. The firm had revenue of $363.91 million during the quarter, compared to the consensus estimate of $344.85 million. As a group, analysts anticipate that Extreme Networks, Inc. will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EXTR shares. Needham & Company LLC increased their price target on Extreme Networks from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Lake Street Capital increased their price target on Extreme Networks from $27.00 to $33.00 in a research note on Wednesday, August 2nd. StockNews.com began coverage on Extreme Networks in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Craig Hallum raised their target price on Extreme Networks from $17.50 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of Extreme Networks in a research report on Tuesday, September 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.71.

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.