Extreme Networks, Inc. (NASDAQ:EXTR) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its shareholding in Extreme Networks, Inc. by 69.8% during the first quarter, now owning 53,464 shares valued at approximately $707,000.
• Other institutional investors, including Victory Capital Management and Barrow Hanley Mewhinney & Strauss LLC, also boosted their stakes in Extreme Networks, indicating significant institutional interest in the company.
• Extreme Networks' stock currently has a market capitalization of $2.41 billion, with a recent trading range between $10.10 and $19.24 over the past year.

XTX Topco Ltd lifted its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 69.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,464 shares of the technology company's stock after acquiring an additional 21,981 shares during the period. XTX Topco Ltd's holdings in Extreme Networks were worth $707,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sterling Capital Management LLC increased its position in Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after buying an additional 1,665 shares in the last quarter. Orion Capital Management LLC acquired a new position in Extreme Networks during the 4th quarter valued at about $33,000. Quarry LP increased its position in Extreme Networks by 42.1% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after buying an additional 719 shares in the last quarter. GAMMA Investing LLC increased its position in Extreme Networks by 105.6% during the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after buying an additional 1,628 shares in the last quarter. Finally, Byrne Asset Management LLC increased its position in Extreme Networks by 115.6% during the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock valued at $51,000 after buying an additional 2,081 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Extreme Networks news, Director Raj Khanna sold 7,973 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $17.20, for a total transaction of $137,135.60. Following the transaction, the director owned 233,735 shares in the company, valued at approximately $4,020,242. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders have sold 81,450 shares of company stock worth $1,436,774 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EXTR shares. 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 price target on Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday. Needham & Company LLC boosted their price target on Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday. Lake Street Capital upgraded Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Thursday. Finally, UBS Group boosted their price target on Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $22.92.

Extreme Networks Stock Performance

Shares of EXTR traded down $0.21 during mid-day trading on Friday, reaching $19.73. The company had a trading volume of 577,604 shares, compared to its average volume of 1,235,378. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $21.34. 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 stock has a market capitalization of $2.63 billion, a P/E ratio of -393.80, a PEG ratio of 2.37 and a beta of 1.75. The stock has a 50 day moving average of $17.47 and a two-hundred day moving average of $15.53.

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 analysts' consensus estimates of $0.22 by $0.03. The firm 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 revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

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.