Extreme Networks, Inc. $EXTR Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Extreme Networks, Inc. by 7.4% to own approximately 1.3 million shares, valued at $17.35 million.
• Several institutional investors, including Vanguard and Alberta Investment Management, also boosted their holdings in Extreme Networks during the first quarter, reflecting strong investor confidence in the company's prospects.
• Extreme Networks recently received multiple analyst upgrades, raising target prices significantly, with current ratings indicating a "Moderate Buy" and an average target price of $22.92.

Charles Schwab Investment Management Inc. grew its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,311,591 shares of the technology company's stock after purchasing an additional 90,091 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.98% of Extreme Networks worth $17,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXTR. LPL Financial LLC increased its stake in shares of Extreme Networks by 24.1% in the fourth quarter. LPL Financial LLC now owns 34,016 shares of the technology company's stock worth $569,000 after buying an additional 6,601 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Extreme Networks by 32.1% in the fourth quarter. Wells Fargo & Company MN now owns 86,521 shares of the technology company's stock worth $1,448,000 after buying an additional 21,047 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Extreme Networks by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock worth $361,000 after buying an additional 4,610 shares during the last quarter. Sterling Capital Management LLC increased its stake in Extreme Networks by 603.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Barclays PLC increased its stake in Extreme Networks by 50.0% during the fourth quarter. Barclays PLC now owns 326,711 shares of the technology company's stock valued at $5,470,000 after purchasing an additional 108,836 shares during the last quarter. Institutional investors own 91.05% of the company's stock.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $17.18, for a total value of $613,755.50. Following the completion of the sale, the chief executive officer owned 1,541,282 shares of the company's stock, valued at $26,479,224.76. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $298,650.00. Following the completion of the sale, the director directly owned 216,708 shares of the company's stock, valued at $4,314,656.28. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,450 shares of company stock valued at $2,235,674 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Extreme Networks Stock Performance

Shares of EXTR traded up $0.57 during midday trading on Thursday, hitting $22.08. 1,424,684 shares of the stock traded hands, compared to its average volume of 1,478,061. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $22.09. The firm has a market capitalization of $2.94 billion, a PE ratio of -441.60, a price-to-earnings-growth ratio of 2.25 and a beta of 1.75. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91. The business's 50 day moving average price is $18.66 and its two-hundred day moving average price is $15.98.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $307.00 million during 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 quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Equities research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on EXTR shares. Lake Street Capital upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Thursday, August 7th. Needham & Company LLC boosted their target price on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. UBS Group boosted their target price on shares of Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" 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, Rosenblatt Securities boosted their target price on shares of Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.92.

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.