Extreme Networks, Inc. (NASDAQ:EXTR) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 76.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 327,356 shares of the technology company's stock after purchasing an additional 142,332 shares during the quarter. Edgestream Partners L.P. owned about 0.25% of Extreme Networks worth $4,331,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after buying an additional 690,262 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock valued at $51,385,000 after acquiring an additional 49,888 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Extreme Networks by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,837,171 shares of the technology company's stock worth $47,494,000 after acquiring an additional 290,184 shares during the period. Trigran Investments Inc. raised its holdings in shares of Extreme Networks by 4.1% during the fourth quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock worth $39,914,000 after purchasing an additional 94,508 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Extreme Networks by 397,835.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after purchasing an additional 2,275,619 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insiders Place Their Bets

In other Extreme Networks news, Director Raj Khanna sold 2,027 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total transaction of $35,330.61. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 in the company, valued at $28,066,745.22. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,450 shares of company stock worth $1,313,523 in the last 90 days. Company insiders own 3.70% of the company's stock.

Extreme Networks Price Performance

EXTR traded up $0.27 on Wednesday, reaching $17.05. 869,577 shares of the company's stock were exchanged, compared to its average volume of 1,214,109. The stock has a market cap of $2.27 billion, a PE ratio of -41.59, a P/E/G ratio of 2.01 and a beta of 1.73. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.93 and a quick ratio of 0.70. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The stock's fifty day moving average price is $16.76 and its 200-day moving average price is $15.42.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EXTR. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. Lake Street Capital decreased their price target on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities upped their price objective on Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. UBS Group decreased their target price on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock 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.