Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 80,594 shares of Extreme Networks, Inc. valued at approximately $1,066,000, bringing their total ownership to about 0.06% as of the latest SEC filing.
• Extreme Networks reported a 34.8% year-over-year revenue increase in its recent quarter, with earnings per share of $0.21, surpassing expectations.
• Analysts have varied views on Extreme Networks, with price targets ranging from $15.00 to $20.00 and the stock rated as a "Moderate Buy" overall.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 80,594 shares of the technology company's stock, valued at approximately $1,066,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Extreme Networks at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EXTR. Vanguard Group Inc. boosted its holdings in shares of Extreme Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after buying an additional 690,262 shares in the last quarter. Victory Capital Management Inc. boosted its holdings 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 valued at $66,314,000 after buying an additional 611,462 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Extreme Networks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,068,854 shares of the technology company's stock valued at $51,385,000 after buying an additional 49,888 shares in the last quarter. Trigran Investments Inc. boosted its holdings in shares of Extreme Networks by 4.1% in the 4th quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock valued at $39,914,000 after buying an additional 94,508 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake 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 worth $38,103,000 after purchasing an additional 2,275,619 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EXTR shares. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities lifted their price target on shares of Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Lake Street Capital decreased 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. UBS Group reduced their price target 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, May 15th. Two research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.92.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $17.18, for a total value of $613,755.50. Following the transaction, the chief executive officer owned 1,541,282 shares in the company, valued at $26,479,224.76. This represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raj Khanna sold 2,027 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total value of $35,330.61. Following the completion of the transaction, the director owned 231,708 shares in the company, valued at $4,038,670.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,450 shares of company stock worth $1,436,774. Corporate insiders own 3.70% of the company's stock.

Extreme Networks Trading Down 2.9%

NASDAQ EXTR traded down $0.53 on Tuesday, hitting $17.54. 405,542 shares of the company were exchanged, compared to its average volume of 1,208,761. The company's 50 day moving average price is $17.28 and its 200-day moving average price is $15.46. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.93 and a quick ratio of 0.70. The firm has a market capitalization of $2.34 billion, a P/E ratio of -42.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.75. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24.

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.