Dynamic Technology Lab Private Ltd Purchases 33,812 Shares of Extreme Networks, Inc. $EXTR

Key Points

• Dynamic Technology Lab Private Ltd increased its holdings in Extreme Networks, Inc. by 126.9% in the first quarter, now owning 60,452 shares valued at approximately $800,000.
• Several institutional investors have also boosted their stakes in Extreme Networks, with 91.05% of the company's stock owned by institutional investors and hedge funds.
• Extreme Networks reported a quarterly earnings per share of $0.25, surpassing estimates, with a 19.6% year-over-year revenue increase to $307 million.

Dynamic Technology Lab Private Ltd raised its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 126.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 60,452 shares of the technology company's stock after acquiring an additional 33,812 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Extreme Networks were worth $800,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of EXTR. Orion Capital Management LLC bought a new stake in Extreme Networks in the 4th quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in Extreme Networks by 105.6% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after acquiring an additional 1,628 shares in the last quarter. Byrne Asset Management LLC increased its position in shares of Extreme Networks by 115.6% during the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock worth $51,000 after purchasing an additional 2,081 shares during the last quarter. Petrus Trust Company LTA acquired a new position in shares of Extreme Networks during the 1st quarter worth approximately $158,000. Finally, Avior Wealth Management LLC increased its position in shares of Extreme Networks by 48.9% during the 1st quarter. Avior Wealth Management LLC now owns 13,998 shares of the technology company's stock worth $185,000 after purchasing an additional 4,594 shares during the last quarter. Institutional investors own 91.05% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on EXTR shares. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Lake Street Capital raised Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a research report on Thursday, August 7th. UBS Group boosted their price target on Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Needham & Company LLC boosted their price target on Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Rosenblatt Securities boosted their price target on Extreme Networks from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Extreme Networks presently has an average rating of "Moderate Buy" and an average target price of $22.92.

Insiders Place Their Bets

In related news, Director Edward H. Kennedy sold 25,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $20.01, for a total value 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. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin R. Rhodes sold 14,000 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $21.52, for a total value of $301,280.00. Following the completion of the sale, the chief financial officer owned 126,202 shares of the company's stock, valued at $2,715,867.04. This trade represents a 9.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,450 shares of company stock valued at $2,838,234 over the last 90 days. 3.70% of the stock is owned by insiders.

Extreme Networks Stock Performance

Shares of EXTR stock traded down $0.53 during trading on Friday, reaching $22.32. 1,247,000 shares of the company's stock were exchanged, compared to its average volume of 1,286,928. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $2.97 billion, a PE ratio of -446.40, a PEG ratio of 2.34 and a beta of 1.84. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $22.89. The firm's fifty day moving average price is $19.55 and its 200-day moving average price is $16.46.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.03. The business had revenue of $307.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current 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.