Headlands Technologies LLC Invests $264,000 in Extreme Networks, Inc. (NASDAQ:EXTR)

Key Points

• Headlands Technologies LLC acquired a new stake in Extreme Networks, purchasing 19,946 shares valued at approximately $264,000 during the 1st quarter.
• In recent months, several institutional investors, including LPL Financial LLC and Wells Fargo & Company, have significantly increased their positions in Extreme Networks.
Lake Street Capital raising its rating from "hold" to "buy" and setting a price target of $24.00.

Headlands Technologies LLC purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,946 shares of the technology company's stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Extreme Networks by 2.3% during the first quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company's stock worth $242,445,000 after acquiring an additional 406,350 shares during the last quarter. Victory Capital Management Inc. increased its stake in Extreme Networks by 13.9% during the first quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock worth $66,314,000 after acquiring an additional 611,462 shares during the last quarter. Geode Capital Management LLC increased its stake in Extreme Networks by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock worth $51,385,000 after acquiring an additional 49,888 shares during the last quarter. Trigran Investments Inc. increased its stake in 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 acquiring an additional 94,508 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position 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 buying an additional 2,275,619 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.

Insiders Place Their Bets

In other Extreme Networks news, Director Edward H. Kennedy sold 25,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $20.01, for a total transaction of $500,250.00. Following the transaction, the director owned 612,691 shares in the company, valued at approximately $12,259,946.91. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 7,973 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $17.20, for a total value of $137,135.60. Following the sale, the director directly owned 233,735 shares in the company, valued at $4,020,242. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,450 shares of company stock worth $1,937,024. Company insiders own 3.70% of the company's stock.

Extreme Networks Stock Performance

EXTR stock traded down $0.93 during trading on Thursday, hitting $19.69. The company had a trading volume of 384,032 shares, compared to its average volume of 1,241,399. The firm has a market cap of $2.62 billion, a PE ratio of -392.30, a price-to-earnings-growth ratio of 2.31 and a beta of 1.75. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $21.34. The firm has a 50-day moving average price of $17.81 and a 200-day moving average price of $15.61. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 2.50.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%. The firm had revenue of $307.00 million for the quarter, compared to analysts' expectations of $299.88 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. On average, analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

EXTR has been the subject of several research analyst reports. UBS Group raised their price target on Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Lake Street Capital upgraded Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a research report on Thursday, August 7th. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Rosenblatt Securities lifted their target price on Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC lifted their target price on Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Extreme Networks currently has an average rating of "Buy" and a consensus target price of $22.92.

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.