Intech Investment Management LLC Grows Position in Extreme Networks, Inc. $EXTR

Key Points

• Intech Investment Management LLC significantly increased its stake in Extreme Networks, owning 210,314 shares after a 26.9% increase during the first quarter, valued at approximately $2.78 million.
• Recent analyst reports reflect a positive sentiment, with multiple firms raising their price targets, including Lake Street Capital's upgrade from "hold" to "buy" with a target of $24.00.
• Extreme Networks reported $0.25 EPS for the most recent quarter, exceeding estimates, and achieved revenues of $307 million, a 19.6% increase year-over-year.

Intech Investment Management LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 26.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,314 shares of the technology company's stock after buying an additional 44,602 shares during the period. Intech Investment Management LLC owned about 0.16% of Extreme Networks worth $2,782,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Focus Partners Wealth increased its stake in shares of Extreme Networks by 25.3% during the first quarter. Focus Partners Wealth now owns 324,736 shares of the technology company's stock worth $4,296,000 after buying an additional 65,535 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Extreme Networks by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company's stock valued at $4,226,000 after purchasing an additional 22,209 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Extreme Networks by 126.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 60,452 shares of the technology company's stock valued at $800,000 after purchasing an additional 33,812 shares in the last quarter. Petrus Trust Company LTA acquired a new position in Extreme Networks in the first quarter valued at approximately $158,000. Finally, Needham Investment Management LLC acquired a new position in Extreme Networks in the first quarter valued at approximately $331,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EXTR shares. Lake Street Capital raised Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a report on Thursday, August 7th. Needham & Company LLC upped their price target on Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Rosenblatt Securities upped their price target on Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, August 7th. 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. Finally, UBS Group raised their target price on shares of Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Extreme Networks presently has an average rating of "Moderate Buy" and an average target price of $22.92.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $22.32 on Monday. The firm has a market capitalization of $2.97 billion, a P/E ratio of -446.40, a PEG ratio of 2.34 and a beta of 1.84. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $22.89. The company's fifty day moving average is $19.55 and its two-hundred day moving average is $16.46. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91.

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

Insider Activity at Extreme Networks

In other Extreme Networks news, CFO Kevin R. Rhodes sold 14,000 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $21.52, for a total transaction of $301,280.00. Following the sale, the chief financial officer directly owned 126,202 shares in the company, valued at approximately $2,715,867.04. The trade was a 9.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Kennedy sold 25,000 shares of Extreme Networks stock in a transaction on Monday, August 11th. The stock was sold at an average price of $20.01, for a total value of $500,250.00. Following the transaction, the director directly owned 612,691 shares of the company's stock, valued at $12,259,946.91. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,450 shares of company stock valued at $2,838,234 over the last 90 days. 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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