Extreme Networks, Inc. $EXTR Shares Acquired by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in Extreme Networks by 25.3%, acquiring a total of 324,736 shares, valued at approximately $4.3 million.
• Analysts have mostly rated Extreme Networks positively, with five analysts giving it a "buy" rating and an average price target of $22.92.
• CEO Edward Meyercord sold 35,725 shares of the company at an average price of $17.18, resulting in a 2.27% decrease in his ownership position.

Focus Partners Wealth raised its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 25.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 324,736 shares of the technology company's stock after acquiring an additional 65,535 shares during the period. Focus Partners Wealth owned approximately 0.24% of Extreme Networks worth $4,296,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks 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 transaction, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at $26,479,224.76. The trade was a 2.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raj Khanna sold 15,000 shares of Extreme Networks stock in a transaction on 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 transaction, the director directly owned 216,708 shares in the company, 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. Over the last quarter, insiders sold 149,450 shares of company stock valued at $2,838,234. Insiders own 3.70% of the company's stock.

Extreme Networks Stock Down 2.3%

Shares of NASDAQ:EXTR opened at $22.32 on Monday. The company has a market capitalization of $2.97 billion, a PE ratio of -446.40, a P/E/G ratio of 2.34 and a beta of 1.84. 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, Inc. has a twelve month low of $10.10 and a twelve month high of $22.89. The firm has a 50 day simple moving average of $19.55 and a 200-day simple moving average of $16.46.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.03. The business had revenue of $307.00 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. On average, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal 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.

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