Brooktree Capital Management Grows Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Brooktree Capital Management boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,047 shares of the technology company's stock after buying an additional 28,378 shares during the quarter. Extreme Networks makes up 2.3% of Brooktree Capital Management's portfolio, making the stock its 11th largest position. Brooktree Capital Management owned 0.16% of Extreme Networks worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,665 shares during the last quarter. Orion Capital Management LLC purchased a new position in Extreme Networks during the fourth quarter worth about $33,000. Quarry LP boosted its stake in shares of Extreme Networks by 42.1% in the fourth 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 lifted its stake in Extreme Networks by 105.6% in the first quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock worth $42,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Byrne Asset Management LLC raised its holdings in Extreme Networks by 115.6% during the first quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock worth $51,000 after purchasing an additional 2,081 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $18.21, for a total transaction of $650,552.25. Following the transaction, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at approximately $28,066,745.22. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 2,027 shares of Extreme Networks stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total transaction of $35,330.61. Following the transaction, the director owned 231,708 shares of the company's stock, valued at $4,038,670.44. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,450 shares of company stock worth $1,313,523 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Extreme Networks Price Performance

Shares of EXTR stock traded up $0.14 during trading hours on Friday, reaching $17.85. The company's stock had a trading volume of 733,354 shares, compared to its average volume of 1,143,203. The firm's 50 day simple moving average is $17.04 and its 200-day simple moving average is $15.46. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -43.54, a PEG ratio of 2.08 and a beta of 1.73. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 2.33.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $284.51 million during 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 firm's revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. Sell-side analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group dropped their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Lake Street Capital dropped their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, May 15th. Rosenblatt Securities increased their target price on Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of "Moderate Buy" and a consensus target price 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.