Mackenzie Financial Corp Has $914,000 Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Key Points

• Mackenzie Financial Corp increased its stake in Extreme Networks, Inc. by 30.9%, acquiring an additional 16,298 shares during the first quarter, bringing its total ownership to approximately 69,102 shares valued at $914,000.
• Several institutional investors have made significant changes to their holdings in Extreme Networks, with one firm increasing its stake by 603.3% in the last quarter.
• Extreme Networks has seen varied analyst ratings, with a current average rating of "Moderate Buy" and a target price of $18.92, reflecting positive sentiments but also some caution from select analysts.

Mackenzie Financial Corp raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 30.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,102 shares of the technology company's stock after acquiring an additional 16,298 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of Extreme Networks worth $914,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Extreme Networks by 397,835.5% in the 4th 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 in the last quarter. LMR Partners LLP bought a new stake in shares of Extreme Networks in the 4th quarter worth $16,573,000. JPMorgan Chase & Co. raised its stake in shares of Extreme Networks by 312.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after buying an additional 908,336 shares in the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth $14,229,000. Finally, Victory Capital Management Inc. raised its stake in shares of Extreme Networks by 13.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock worth $66,314,000 after buying an additional 611,462 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Analyst Upgrades and Downgrades

EXTR has been the topic of a number of recent analyst reports. UBS Group boosted their target price on Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Rosenblatt Securities boosted their target price on Extreme Networks from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday. Lake Street Capital raised Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a research report on Thursday. Finally, Needham & Company LLC boosted their target price on Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $22.92.

Insider Buying and Selling at Extreme Networks

In related news, Director Raj Khanna sold 7,973 shares of Extreme Networks stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $17.20, for a total value of $137,135.60. Following the transaction, the director owned 233,735 shares in the company, valued at $4,020,242. This trade represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Friday, August 1st. The stock was sold at an average price of $17.18, for a total transaction of $613,755.50. Following the completion of the transaction, the chief executive officer owned 1,541,282 shares in the company, valued at $26,479,224.76. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,450 shares of company stock worth $1,436,774 in the last quarter. Insiders own 3.70% of the company's stock.

Extreme Networks Stock Up 0.1%

Shares of EXTR traded up $0.01 during trading hours on Friday, reaching $19.95. The company's stock had a trading volume of 1,698,452 shares, compared to its average volume of 1,221,914. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.50. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -399.00, a P/E/G ratio of 2.35 and a beta of 1.75. The company has a 50 day moving average of $17.55 and a two-hundred day moving average of $15.54. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $21.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly 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%. Extreme Networks's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. As a group, research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

About Extreme Networks

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.