Victory Capital Management Inc. boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,012,386 shares of the technology company's stock after purchasing an additional 611,462 shares during the period. Victory Capital Management Inc. owned about 3.78% of Extreme Networks worth $66,314,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Extreme Networks by 397,835.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock valued at $38,103,000 after acquiring an additional 2,275,619 shares during the period. LMR Partners LLP bought a new position in shares of Extreme Networks in the fourth quarter worth $16,573,000. JPMorgan Chase & Co. increased its holdings in shares of Extreme Networks by 312.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after purchasing an additional 908,336 shares during the period. Penn Capital Management Company LLC bought a new position in shares of Extreme Networks in the fourth quarter worth $14,229,000. Finally, Vanguard Group Inc. increased its holdings in shares of Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after purchasing an additional 690,262 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.
Extreme Networks Price Performance
Shares of Extreme Networks stock traded up $0.10 during trading hours on Tuesday, reaching $17.73. The company's stock had a trading volume of 1,286,995 shares, compared to its average volume of 1,208,684. The stock has a market cap of $2.36 billion, a P/E ratio of -43.24, a P/E/G ratio of 2.07 and a beta of 1.73. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24. The firm has a 50 day moving average price of $16.91 and a 200-day moving average price of $15.42. 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 (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The firm had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same quarter in the previous year, the business posted ($0.19) EPS. Extreme Networks's revenue was up 34.8% on a year-over-year basis. On average, analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.
Analysts Set New Price Targets
A number of research firms recently commented on EXTR. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research note on Thursday, May 15th. Rosenblatt Securities increased their target price on shares of Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, June 13th. UBS Group lowered their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Lake Street Capital lowered their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.92.
Read Our Latest Analysis on EXTR
Insiders Place Their Bets
In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 1,541,282 shares in the company, valued at approximately $28,066,745.22. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raj Khanna sold 2,027 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total transaction of $35,330.61. Following the transaction, the director directly owned 231,708 shares in the company, valued at approximately $4,038,670.44. The trade was a 0.87% 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 quarter. Company insiders own 3.70% of the company's stock.
Extreme Networks Profile
(
Free Report)
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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