Extreme Networks, Inc. (NASDAQ:EXTR) Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings in Extreme Networks by 5.2%, owning approximately 1.29% of the company, valued at $22.68 million as of the latest SEC filing.
• Other institutional investors also raised their stakes in Extreme Networks significantly, with 91.05% of the company's stock now owned by institutional investors.
• This month, several analysts upgraded their ratings for Extreme Networks, with price targets reaching as high as $25.00, reflecting positive sentiment on the company's growth potential.

Deutsche Bank AG raised its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,714,297 shares of the technology company's stock after acquiring an additional 84,075 shares during the quarter. Deutsche Bank AG owned 1.29% of Extreme Networks worth $22,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in Extreme Networks by 603.3% in the fourth 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 period. Orion Capital Management LLC purchased a new position in shares of Extreme Networks in the fourth quarter valued at $33,000. Quarry LP increased its position 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 buying an additional 719 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Extreme Networks by 105.6% in the first quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after buying an additional 1,628 shares in the last quarter. Finally, Byrne Asset Management LLC increased its position in shares of Extreme Networks by 115.6% in the first quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock valued at $51,000 after buying an additional 2,081 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EXTR. UBS Group raised their price target on Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Rosenblatt Securities raised their price target on Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC raised their price target on Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Lake Street Capital upgraded Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $22.92.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Friday, August 1st. The stock was 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 in the company, valued at $26,479,224.76. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raj Khanna sold 2,027 shares of Extreme Networks stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total value of $35,330.61. Following the completion of the sale, the director 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 disclosure for this sale can be found here. Insiders sold 106,450 shares of company stock worth $1,937,024 in the last 90 days. 3.70% of the stock is owned by company insiders.

Extreme Networks Price Performance

Extreme Networks stock traded down $0.03 during midday trading on Friday, reaching $19.72. 1,041,833 shares of the company were exchanged, compared to its average volume of 1,348,317. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -394.40, a P/E/G ratio of 2.07 and a beta of 1.75. The firm's 50-day simple moving average is $17.94 and its 200-day simple moving average is $15.66. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $21.34. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $307.00 million during the quarter, compared to analysts' expectations of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%. The firm's revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. On average, analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS 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.