SG Americas Securities LLC Has $824,000 Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

SG Americas Securities LLC lifted its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 25.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,288 shares of the technology company’s stock after purchasing an additional 12,503 shares during the period. SG Americas Securities LLC’s holdings in Extreme Networks were worth $824,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Sterling Capital Management LLC grew its holdings in Extreme Networks by 603.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock valued at $32,000 after buying an additional 1,665 shares in the last quarter. Orion Capital Management LLC bought a new stake in Extreme Networks in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC boosted its position in shares of Extreme Networks by 385.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,733 shares in the last quarter. Quarry LP boosted its stake in Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company’s stock worth $41,000 after acquiring an additional 719 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Extreme Networks by 105.6% during the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company’s stock worth $42,000 after buying an additional 1,628 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Up 0.1%

Shares of NASDAQ EXTR opened at $16.59 on Friday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.70 and a current ratio of 0.93. The stock has a 50 day moving average price of $14.78 and a 200 day moving average price of $15.41. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -40.46, a PEG ratio of 3.05 and a beta of 1.73. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a positive return on equity of 13.79% and a negative net margin of 4.94%. The company’s revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Sell-side analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the sale, the chief executive officer now directly owns 1,510,719 shares of the company’s stock, valued at approximately $20,742,171.87. This trade represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of research analyst reports. Lake Street Capital decreased their price target on Extreme Networks from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, May 15th. Rosenblatt Securities lifted their price objective on shares of Extreme Networks from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, June 13th. UBS Group decreased their price objective on Extreme Networks from $16.50 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.92.

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.