163,957 Shares in Extreme Networks, Inc. $EXTR Bought by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 163,957 shares of Extreme Networks, valued at approximately $2.17 million, increasing its stake to 0.12% as of its latest SEC filing.
• Several hedge funds increased their positions in Extreme Networks, with ownership by institutional investors totaling 91.05% of the stock.
• Extreme Networks reported earnings of $0.25 per share for the last quarter, beating expectations, with a 19.6% year-over-year revenue increase to $307 million.

Jump Financial LLC bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 163,957 shares of the technology company's stock, valued at approximately $2,169,000. Jump Financial LLC owned 0.12% of Extreme Networks as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EXTR. Orion Capital Management LLC purchased a new position in shares of Extreme Networks in the fourth quarter worth $33,000. Quarry LP increased its position in Extreme Networks by 42.1% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after purchasing an additional 719 shares during the period. GAMMA Investing LLC increased its position in Extreme Networks by 105.6% during the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after purchasing an additional 1,628 shares during the period. Byrne Asset Management LLC increased its position in Extreme Networks by 115.6% during the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock valued at $51,000 after purchasing an additional 2,081 shares during the period. Finally, Avior Wealth Management LLC increased its position in Extreme Networks by 48.9% during the 1st quarter. Avior Wealth Management LLC now owns 13,998 shares of the technology company's stock valued at $185,000 after purchasing an additional 4,594 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EXTR has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. UBS Group boosted their price objective on shares of Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a research 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. Rosenblatt Securities boosted their price objective on shares of Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Lake Street Capital raised shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Extreme Networks presently has an average rating of "Moderate Buy" and a consensus price target of $22.92.

Insider Buying and Selling

In related news, Director Raj Khanna sold 15,000 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $19.91, for a total value of $298,650.00. Following the transaction, the director owned 216,708 shares in the company, valued at $4,314,656.28. The trade was a 6.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $17.18, for a total transaction of $613,755.50. Following the completion of the transaction, the chief executive officer owned 1,541,282 shares in the company, valued at approximately $26,479,224.76. The trade was a 2.27% decrease in their position. 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 quarter. Corporate insiders own 3.70% of the company's stock.

Extreme Networks Stock Up 1.6%

NASDAQ:EXTR opened at $21.51 on Thursday. The firm's 50-day moving average price is $18.55 and its 200-day moving average price is $15.93. The company has a market capitalization of $2.86 billion, a PE ratio of -430.20, a P/E/G ratio of 2.22 and a beta of 1.75. 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 1-year low of $10.10 and a 1-year high of $21.55.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share for the quarter, topping 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 negative net margin of 0.65% and a positive return on equity of 82.47%. The company's revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.