GAMMA Investing LLC Purchases 40,397 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

GAMMA Investing LLC boosted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 2,619.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,939 shares of the technology company's stock after buying an additional 40,397 shares during the quarter. GAMMA Investing LLC's holdings in Extreme Networks were worth $555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division increased its position in Extreme Networks by 19.7% during the 1st quarter. Central Pacific Bank Trust Division now owns 19,089 shares of the technology company's stock valued at $253,000 after purchasing an additional 3,135 shares during the period. First Hawaiian Bank increased its position in Extreme Networks by 20.3% during the 1st quarter. First Hawaiian Bank now owns 29,567 shares of the technology company's stock valued at $391,000 after purchasing an additional 4,995 shares during the period. Mackenzie Financial Corp increased its position in Extreme Networks by 123.8% during the 4th quarter. Mackenzie Financial Corp now owns 52,804 shares of the technology company's stock valued at $884,000 after purchasing an additional 29,214 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position 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 purchasing an additional 2,275,619 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in shares of Extreme Networks in the 4th quarter worth about $33,000. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $16.59 on Thursday. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24. The company's 50-day moving average is $14.67 and its 200 day moving average is $15.42. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -40.46, a price-to-earnings-growth ratio of 3.05 and a beta of 1.73. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.70 and a current ratio of 0.93.

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. Sell-side analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EXTR has been the topic of a number of recent research reports. Rosenblatt Securities upped their target price on shares of 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 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, May 15th. Lake Street Capital reduced their target price 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, Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.92.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $13.73, for a total transaction of $490,504.25. Following the transaction, the chief executive officer now owns 1,510,719 shares in the company, valued at approximately $20,742,171.87. This represents a 2.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.70% of the company's stock.

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.

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