Edgestream Partners L.P. Increases Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Edgestream Partners L.P. grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 76.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 327,356 shares of the technology company's stock after buying an additional 142,332 shares during the quarter. Edgestream Partners L.P. owned approximately 0.25% of Extreme Networks worth $4,331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXTR. Sterling Capital Management LLC grew its stake in shares of Extreme Networks by 603.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock worth $32,000 after purchasing an additional 1,665 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Extreme Networks in the fourth quarter worth $33,000. Quarry LP grew its stake 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 worth $41,000 after purchasing an additional 719 shares during the last quarter. GAMMA Investing LLC grew its stake 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 worth $42,000 after purchasing an additional 1,628 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its holdings in 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 during the period. Institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Performance

Shares of EXTR stock traded up $0.04 during trading on Friday, reaching $17.52. 1,063,931 shares of the company's stock traded hands, compared to its average volume of 1,208,483. The company has a market capitalization of $2.33 billion, a P/E ratio of -42.73, a PEG ratio of 2.06 and a beta of 1.73. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 2.33. The firm's 50-day moving average is $16.87 and its 200 day moving average is $15.43. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $284.51 million for the quarter, compared to analysts' expectations of $280.32 million. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The business's quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. Equities research analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 7,973 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $17.20, for a total value of $137,135.60. Following the sale, the director owned 233,735 shares of the company's stock, valued at $4,020,242. This trade represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total transaction of $650,552.25. Following the completion of the sale, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at approximately $28,066,745.22. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,450 shares of company stock worth $1,313,523. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EXTR. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a report on Thursday, May 15th. 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 dropped their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Lake Street Capital dropped their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Rosenblatt Securities upped their price objective on shares of Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 13th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.92.

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.