Vanguard Group Inc. Has $242.45 Million Stock Holdings in Extreme Networks, Inc. $EXTR

Key Points

• Vanguard Group Inc. increased its ownership in Extreme Networks, Inc. by 2.3% during the first quarter, bringing its total shares to 18.3 million, valued at approximately $242 million.
• Several hedge funds have also increased their positions in Extreme Networks, with total institutional ownership now at 91.05%.
• Extreme Networks reported a quarterly revenue of $307 million with earnings per share of $0.25, beating analysts' expectations and reflecting a year-over-year revenue increase of 19.6%.

Vanguard Group Inc. raised its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,325,419 shares of the technology company's stock after acquiring an additional 406,350 shares during the period. Vanguard Group Inc. owned 13.76% of Extreme Networks worth $242,445,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings 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 purchasing an additional 2,275,619 shares during the last quarter. LMR Partners LLP bought a new position in Extreme Networks during the 4th quarter worth $16,573,000. Penn Capital Management Company LLC acquired a new stake in Extreme Networks in the fourth quarter worth $14,229,000. Victory Capital Management Inc. lifted its stake in Extreme Networks by 13.9% in the first 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Extreme Networks during the fourth quarter valued at $8,291,000. 91.05% of the stock is owned by institutional investors.

Extreme Networks Price Performance

EXTR traded up $0.71 during trading on Friday, reaching $20.67. The stock had a trading volume of 1,022,791 shares, compared to its average volume of 1,353,626. The stock has a 50 day moving average of $18.28 and a two-hundred day moving average of $15.82. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -413.40, a price-to-earnings-growth ratio of 2.17 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.

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, topping analysts' consensus estimates of $0.22 by $0.03. The company had revenue of $307.00 million for the quarter, compared to the consensus estimate of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%.The company's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. As a group, equities analysts anticipate that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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 report on Thursday, August 7th. Needham & Company LLC upped their target price 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. Rosenblatt Securities lifted 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. UBS Group boosted their price objective on Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.92.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $17.18, for a total value of $613,755.50. Following the sale, the chief executive officer directly owned 1,541,282 shares in the company, valued at $26,479,224.76. The trade was a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward H. Kennedy sold 25,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $20.01, for a total transaction of $500,250.00. Following the sale, the director directly owned 612,691 shares of the company's stock, valued at approximately $12,259,946.91. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,450 shares of company stock worth $2,235,674. 3.70% of the stock is owned by corporate insiders.

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.