Vanguard Group Inc. Increases Stake in Extreme Networks, Inc. $EXTR

Vanguard Group Inc. lifted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,325,419 shares of the technology company’s stock after purchasing an additional 406,350 shares during the quarter. Vanguard Group Inc. owned about 13.76% of Extreme Networks worth $242,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in shares of Extreme Networks by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company’s stock valued at $361,000 after purchasing an additional 4,610 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Extreme Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 661,779 shares of the technology company’s stock valued at $8,755,000 after purchasing an additional 19,248 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Extreme Networks by 2,619.8% during the first quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company’s stock valued at $555,000 after purchasing an additional 40,397 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of Extreme Networks by 76.9% during the first quarter. Edgestream Partners L.P. now owns 327,356 shares of the technology company’s stock valued at $4,331,000 after purchasing an additional 142,332 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Extreme Networks by 41.5% during the first quarter. Impax Asset Management Group plc now owns 955,178 shares of the technology company’s stock valued at $12,637,000 after purchasing an additional 280,000 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXTR has been the topic of several research reports. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Lake Street Capital raised Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 7th. Rosenblatt Securities boosted their target price on Extreme Networks from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. UBS Group boosted their target price on Extreme Networks from $15.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Needham & Company LLC boosted their target price on Extreme Networks from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $22.92.

Extreme Networks Trading Up 0.8%

Extreme Networks stock opened at $19.87 on Tuesday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -397.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.75. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 2.50. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $21.34. The business’s fifty day simple moving average is $18.00 and its two-hundred day simple moving average is $15.69.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $307.00 million for the quarter, compared to the consensus estimate of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward H. Kennedy sold 25,000 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $20.01, for a total transaction of $500,250.00. Following the transaction, the director directly owned 612,691 shares of the company’s stock, valued at $12,259,946.91. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $17.18, for a total value of $613,755.50. Following the transaction, the chief executive officer directly owned 1,541,282 shares in the company, valued at approximately $26,479,224.76. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,450 shares of company stock valued at $1,937,024 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Extreme Networks 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.