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Victory Capital Management Inc. Buys 611,462 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Extreme Networks logo with Computer and Technology background

Victory Capital Management Inc. boosted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,012,386 shares of the technology company's stock after acquiring an additional 611,462 shares during the period. Victory Capital Management Inc. owned 3.78% of Extreme Networks worth $66,314,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of EXTR. Quarry LP grew its stake in Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock worth $41,000 after buying an additional 719 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Extreme Networks by 9.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,490 shares of the technology company's stock worth $226,000 after buying an additional 1,182 shares in the last quarter. Bank of Montreal Can grew its stake in Extreme Networks by 8.4% in the 4th quarter. Bank of Montreal Can now owns 18,071 shares of the technology company's stock worth $303,000 after buying an additional 1,393 shares in the last quarter. Cresset Asset Management LLC grew its stake in Extreme Networks by 1.2% in the 4th quarter. Cresset Asset Management LLC now owns 131,617 shares of the technology company's stock worth $2,203,000 after buying an additional 1,522 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Extreme Networks by 105.6% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock worth $42,000 after buying an additional 1,628 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insider Activity

In other Extreme Networks news, Director Raj Khanna sold 2,027 shares of the company's 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 transaction, the director owned 231,708 shares in the company, valued at approximately $4,038,670.44. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $18.21, for a total transaction of $650,552.25. Following the transaction, the chief executive officer owned 1,541,282 shares in the company, valued at $28,066,745.22. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,450 shares of company stock worth $1,313,523 over the last three months. 3.70% of the stock is currently owned by insiders.

Extreme Networks Stock Up 0.2%

EXTR stock traded up $0.04 during trading on Friday, hitting $17.52. 1,063,931 shares of the stock traded hands, compared to its average volume of 1,209,445. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The firm's 50 day moving average is $16.87 and its two-hundred day moving average is $15.42. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -42.73, a price-to-earnings-growth ratio of 2.06 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 (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, beating 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 company had revenue of $284.51 million for the quarter, compared to the consensus estimate of $280.32 million. During the same period in the prior year, the firm posted ($0.19) EPS. Extreme Networks's revenue for the quarter was up 34.8% on a year-over-year basis. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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. Rosenblatt Securities boosted their price objective 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. Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, May 15th. Lake Street Capital reduced their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group reduced their target price on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.92.

Read Our Latest Stock Report on Extreme Networks

About Extreme Networks

(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.

See Also

Institutional Ownership by Quarter for Extreme Networks (NASDAQ:EXTR)

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