Vanguard Group Inc. lifted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 17.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,895,107 shares of the technology company's stock after purchasing an additional 1,877,727 shares during the period. Vanguard Group Inc. owned 9.95% of Extreme Networks worth $312,191,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in EXTR. West Tower Group LLC acquired a new position in shares of Extreme Networks during the second quarter valued at $28,000. Asset Management One Co. Ltd. acquired a new position in shares of Extreme Networks during the third quarter valued at $37,000. Tucker Asset Management LLC acquired a new position in Extreme Networks in the third quarter valued at about $41,000. Meeder Asset Management Inc. lifted its stake in Extreme Networks by 49.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company's stock valued at $33,000 after buying an additional 592 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Extreme Networks by 101.9% in the third quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company's stock valued at $45,000 after buying an additional 947 shares during the period. Institutional investors own 91.05% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on EXTR shares. StockNews.com lowered Extreme Networks from a "buy" rating to a "hold" rating in a research note on Thursday, February 1st. Rosenblatt Securities lowered Extreme Networks from a "buy" rating to a "neutral" rating and cut their target price for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. UBS Group lowered Extreme Networks from a "buy" rating to a "neutral" rating and cut their target price for the company from $22.00 to $14.00 in a research note on Thursday, February 1st. TheStreet lowered Extreme Networks from a "b-" rating to a "c+" rating in a research note on Tuesday, February 20th. Finally, B. Riley cut their target price on Extreme Networks from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Extreme Networks currently has an average rating of "Hold" and a consensus price target of $22.36.
View Our Latest Stock Analysis on EXTR
Extreme Networks Stock Down 0.3 %
Shares of NASDAQ EXTR traded down $0.03 during mid-day trading on Thursday, reaching $11.54. 1,740,797 shares of the company's stock were exchanged, compared to its average volume of 2,169,634. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 4.08 and a beta of 1.91. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. The business has a fifty day simple moving average of $12.85 and a 200 day simple moving average of $17.14. Extreme Networks, Inc. has a twelve month low of $11.12 and a twelve month high of $32.73.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). The firm had revenue of $296.38 million for the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. As a group, equities analysts expect that Extreme Networks, Inc. will post 0.17 EPS for the current fiscal year.
Insider Buying and Selling at Extreme Networks
In other news, CEO Edward Meyercord sold 28,443 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the completion of the sale, the chief executive officer now directly owns 1,129,611 shares of the company's stock, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.32% of the company's stock.
About Extreme Networks
(
Free Report)
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.
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