22,000 Shares in Extreme Networks, Inc. $EXTR Bought by Centurion Wealth Management LLC

Key Points

• Centurion Wealth Management LLC has acquired 22,000 shares of Extreme Networks, Inc. valued at approximately $395,000, according to a recent SEC filing.
• Several institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS and Nuveen Asset Management, have also significantly increased their stakes in Extreme Networks during the recent quarter.
• Extreme Networks has received multiple upgrades from analysts, with price targets raised to as high as $25.00 as of August 7th, reflecting a generally positive outlook on the stock.

Centurion Wealth Management LLC bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,000 shares of the technology company's stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Extreme Networks by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company's stock worth $242,445,000 after buying an additional 406,350 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Extreme Networks by 0.7% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company's stock worth $69,129,000 after purchasing an additional 35,400 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Extreme Networks by 13.9% during the 1st quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock worth $66,314,000 after purchasing an additional 611,462 shares during the period. Trigran Investments Inc. boosted its stake in shares of Extreme Networks by 30.3% during the 1st quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company's stock worth $41,098,000 after purchasing an additional 722,121 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Extreme Networks by 1.2% during the 1st quarter. American Century Companies Inc. now owns 2,871,898 shares of the technology company's stock worth $37,995,000 after purchasing an additional 34,727 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In other news, 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 sale, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at $26,479,224.76. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Kennedy sold 25,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $20.01, for a total transaction of $500,250.00. Following the completion of the sale, the director directly owned 612,691 shares in the company, valued at $12,259,946.91. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 149,450 shares of company stock valued at $2,838,234 over the last quarter. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXTR. 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 note on Thursday, August 7th. UBS Group lifted their price target on shares of Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Needham & Company LLC lifted their price target on shares of Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, 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 report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average price target of $22.92.

Extreme Networks Stock Performance

NASDAQ:EXTR traded down $0.24 during trading hours on Friday, hitting $22.44. 315,909 shares of the company were exchanged, compared to its average volume of 1,251,222. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -448.80, a PEG ratio of 2.33 and a beta of 1.84. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $22.89. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.74. The company's 50 day moving average price is $19.89 and its 200-day moving average price is $16.65.

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 the consensus estimate of $0.22 by $0.03. The company 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%. Extreme Networks's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. As a group, research analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

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.