Extreme Networks, Inc. $EXTR Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 34.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 283,600 shares of the technology company’s stock after purchasing an additional 72,748 shares during the period. Russell Investments Group Ltd. owned approximately 0.21% of Extreme Networks worth $3,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake 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 purchased a new position in Extreme Networks in the 4th quarter worth approximately $33,000. Quarry LP increased its holdings in shares of Extreme Networks by 42.1% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company’s stock worth $41,000 after buying an additional 719 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 last quarter. Finally, Byrne Asset Management LLC increased its holdings in shares of Extreme Networks by 115.6% during the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company’s stock worth $51,000 after buying an additional 2,081 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $17.18, for a total value of $613,755.50. Following the sale, the chief executive officer directly owned 1,541,282 shares in the company, valued at $26,479,224.76. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raj Khanna sold 15,000 shares of Extreme Networks stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $19.91, for a total transaction of $298,650.00. Following the completion of the sale, the director owned 216,708 shares in the company, valued at approximately $4,314,656.28. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,450 shares of company stock worth $2,235,674 in the last ninety days. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Extreme Networks from $15.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Lake Street Capital raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 7th. Rosenblatt Securities lifted their price objective on shares of Extreme Networks from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC upped their target price on shares of Extreme Networks from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.92.

Extreme Networks Trading Up 3.6%

NASDAQ EXTR opened at $20.67 on Friday. The company’s fifty day moving average price is $18.28 and its two-hundred day moving average price is $15.82. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.74. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $21.34. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -413.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.75.

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

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.