Invesco Ltd. Has $7.06 Million Stock Holdings in Extreme Networks, Inc. $EXTR

Key Points

• Invesco Ltd. increased its holdings in Extreme Networks by 3.4% during the first quarter, now owning approximately 0.40% of the company valued at about $7 million.
• Wall Street analysts have boosted their price objectives for Extreme Networks, with estimates now ranging between $21.00 and $25.00, indicating a generally positive outlook for the stock.
• Extreme Networks reported $0.25 earnings per share for its latest quarter, exceeding the consensus estimate of $0.22, along with a 19.6% year-over-year revenue growth.

Invesco Ltd. increased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 533,849 shares of the technology company's stock after purchasing an additional 17,431 shares during the quarter. Invesco Ltd. owned 0.40% of Extreme Networks worth $7,063,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of EXTR. Envestnet Asset Management Inc. increased its stake in Extreme Networks by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock worth $361,000 after purchasing an additional 4,610 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Extreme Networks by 3.6% during the 4th quarter. MetLife Investment Management LLC now owns 76,739 shares of the technology company's stock worth $1,285,000 after acquiring an additional 2,672 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Extreme Networks by 263.3% during the 4th quarter. Hsbc Holdings PLC now owns 93,005 shares of the technology company's stock worth $1,555,000 after acquiring an additional 67,405 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Extreme Networks by 1.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 758,164 shares of the technology company's stock worth $12,692,000 after acquiring an additional 7,856 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Extreme Networks during the 4th quarter worth approximately $5,585,000. 91.05% of the stock is owned by institutional investors.

Insider Activity

In other Extreme Networks news, Director Edward H. Kennedy sold 25,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $20.01, for a total transaction of $500,250.00. Following the completion of the sale, the director owned 612,691 shares of the company's stock, valued at $12,259,946.91. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raj Khanna sold 15,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $19.91, for a total value of $298,650.00. Following the sale, the director directly owned 216,708 shares of the company's stock, valued at $4,314,656.28. This represents a 6.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,450 shares of company stock valued at $2,235,674. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EXTR shares. Rosenblatt Securities raised 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. UBS Group raised 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. Needham & Company LLC raised 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 raised shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Extreme Networks presently has a consensus rating of "Moderate Buy" and an average target price of $22.92.

Extreme Networks Stock Down 3.2%

Shares of NASDAQ EXTR traded down $0.70 during trading hours on Friday, hitting $21.38. The company had a trading volume of 2,289,485 shares, compared to its average volume of 1,506,100. The stock has a market capitalization of $2.85 billion, a P/E ratio of -427.60, a price-to-earnings-growth ratio of 2.24 and a beta of 1.75. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 2.50. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $22.10. The firm's 50 day moving average is $18.76 and its 200-day moving average is $16.02.

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, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $307.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share 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.