Centurion Wealth Management LLC Acquires Shares of 22,000 Extreme Networks, Inc. $EXTR

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 acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,000 shares of the technology company's stock, valued at approximately $395,000.

A number of other institutional investors also recently bought and sold shares of EXTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Extreme Networks by 6.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,374 shares of the technology company's stock valued at $1,228,000 after purchasing an additional 4,382 shares during the period. Nuveen Asset Management LLC increased its stake in Extreme Networks by 55.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,253,467 shares of the technology company's stock valued at $20,983,000 after purchasing an additional 445,824 shares during the period. ProShare Advisors LLC increased its stake in Extreme Networks by 48.0% in the fourth quarter. ProShare Advisors LLC now owns 38,924 shares of the technology company's stock valued at $652,000 after purchasing an additional 12,622 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Extreme Networks by 24.1% in 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 valued at $4,976,000 after purchasing an additional 57,810 shares during the period. Finally, Orion Capital Management LLC acquired a new position in Extreme Networks in the fourth quarter valued at $33,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Extreme Networks

In other Extreme Networks news, Director Edward H. Kennedy sold 25,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $20.01, for a total value of $500,250.00. Following the sale, the director owned 612,691 shares of the company's stock, valued at $12,259,946.91. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin R. Rhodes sold 14,000 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $21.52, for a total transaction of $301,280.00. Following the completion of the sale, the chief financial officer directly owned 126,202 shares in the company, valued at $2,715,867.04. This trade represents a 9.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,450 shares of company stock worth $2,838,234 in the last ninety days. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Needham & Company LLC boosted 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. Lake Street Capital upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Thursday, August 7th. Rosenblatt Securities boosted their price target on shares of Extreme Networks from $20.00 to $25.00 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 research note on Thursday, May 22nd. Finally, UBS Group boosted 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. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.92.

Extreme Networks Stock Down 2.3%

EXTR stock opened at $22.32 on Monday. The company has a market cap of $2.97 billion, a P/E ratio of -446.40, a P/E/G ratio of 2.34 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's 50-day moving average price is $19.55 and its 200 day moving average price is $16.46. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 2.50.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.25 EPS 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 firm's revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, research analysts expect 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.

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