Nuveen LLC Invests $14.15 Million in Extreme Networks, Inc. $EXTR

Key Points

• Nuveen LLC invested approximately $14.15 million in Extreme Networks, acquiring over 1 million shares, which represents 0.80% ownership of the company.
• Several analysts have upgraded Extreme Networks' stock ratings and raised price targets, with Needham & Company setting a new target of $24.00, classifying the stock as a "buy."
• Extreme Networks reported a 19.6% year-over-year increase in quarterly revenue, with earnings per share of $0.25, exceeding analysts' expectations of $0.22.

Nuveen LLC purchased a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,069,284 shares of the technology company's stock, valued at approximately $14,147,000. Nuveen LLC owned about 0.80% of Extreme Networks at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EXTR. LPL Financial LLC boosted its position in Extreme Networks by 24.1% during the fourth quarter. LPL Financial LLC now owns 34,016 shares of the technology company's stock valued at $569,000 after acquiring an additional 6,601 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Extreme Networks by 32.1% during the 4th quarter. Wells Fargo & Company MN now owns 86,521 shares of the technology company's stock worth $1,448,000 after purchasing an additional 21,047 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Extreme Networks by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock worth $361,000 after purchasing an additional 4,610 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Extreme Networks by 8.4% during the 4th quarter. Bank of Montreal Can now owns 18,071 shares of the technology company's stock worth $303,000 after purchasing an additional 1,393 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock worth $32,000 after purchasing an additional 1,665 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Up 1.6%

NASDAQ:EXTR traded up $0.34 on Wednesday, hitting $21.51. The stock had a trading volume of 1,199,310 shares, compared to its average volume of 1,453,918. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91. The stock has a market cap of $2.86 billion, a P/E ratio of -430.20, a price-to-earnings-growth ratio of 2.22 and a beta of 1.75. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $21.55. The firm's fifty day simple moving average is $18.55 and its two-hundred day simple moving average is $15.93.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The firm had revenue of $307.00 million during 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 company's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. Analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 15,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $19.91, for a total value of $298,650.00. Following the completion of the sale, the director owned 216,708 shares in the company, valued at approximately $4,314,656.28. This trade represents a 6.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward H. Kennedy sold 25,000 shares of the firm'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 sale, the director owned 612,691 shares of the company's stock, valued at approximately $12,259,946.91. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,450 shares of company stock worth $2,235,674. Insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of research analyst reports. UBS Group increased their price objective 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. 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. Rosenblatt Securities increased their price objective on shares of Extreme Networks from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Lake Street Capital raised shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research report on Thursday, August 7th. Finally, Needham & Company LLC increased their price objective on shares of Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.92.

Extreme Networks 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.