CenterBook Partners LP Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

CenterBook Partners LP acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 59,056 shares of the technology company's stock, valued at approximately $781,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Extreme Networks by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock worth $361,000 after purchasing an additional 4,610 shares during the period. GAMMA Investing LLC raised its stake in Extreme Networks by 2,619.8% in 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. Principal Financial Group Inc. raised its stake in Extreme Networks by 3.0% in 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. Impax Asset Management Group plc raised its stake in Extreme Networks by 41.5% in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Extreme Networks by 24.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company's stock worth $4,976,000 after acquiring an additional 57,810 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Raj Khanna sold 2,027 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $17.43, for a total transaction of $35,330.61. Following the completion of the sale, the director directly owned 231,708 shares of the company's stock, valued at $4,038,670.44. This trade represents a 0.87% decrease in their position. 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 firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $18.21, for a total value of $650,552.25. Following the sale, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at approximately $28,066,745.22. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,450 shares of company stock valued at $1,313,523 over the last three months. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities upped their target price on Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 13th. UBS Group reduced their target price on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, May 15th. Finally, Lake Street Capital cut their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.92.

Extreme Networks Stock Up 0.2%

NASDAQ EXTR traded up $0.04 on Friday, reaching $17.52. The company had a trading volume of 1,063,931 shares, compared to its average volume of 1,208,483. The stock has a market capitalization of $2.33 billion, a P/E ratio of -42.73, a P/E/G ratio of 2.06 and a beta of 1.73. The company's fifty day moving average is $16.87 and its 200 day moving average is $15.43. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-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 released its quarterly 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%. Extreme Networks's quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. Sell-side analysts anticipate 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.