Allspring Global Investments Holdings LLC Boosts Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Allspring Global Investments Holdings LLC lifted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 134.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,700 shares of the technology company’s stock after purchasing an additional 6,703 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Extreme Networks were worth $176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Extreme Networks by 101.8% in the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after buying an additional 220,763 shares during the last quarter. Brooktree Capital Management grew its stake in Extreme Networks by 45.9% in the 1st quarter. Brooktree Capital Management now owns 221,187 shares of the technology company’s stock valued at $2,552,000 after purchasing an additional 69,625 shares during the period. Gallacher Capital Management LLC increased its position in shares of Extreme Networks by 20.8% during the 1st quarter. Gallacher Capital Management LLC now owns 17,590 shares of the technology company’s stock valued at $203,000 after purchasing an additional 3,031 shares during the last quarter. Duality Advisers LP raised its stake in shares of Extreme Networks by 355.3% during the 1st quarter. Duality Advisers LP now owns 241,397 shares of the technology company’s stock worth $2,786,000 after purchasing an additional 188,372 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Extreme Networks by 33.1% in the 1st quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company’s stock worth $515,000 after buying an additional 11,077 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their target price on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. B. Riley raised their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Craig Hallum lifted their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $15.09 on Monday. The business’s fifty day moving average is $14.88 and its 200 day moving average is $13.35. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 3.44 and a beta of 1.77. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $18.77.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The firm had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Research analysts predict that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is currently owned by company insiders.

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.