Federated Hermes Inc. Grows Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Federated Hermes Inc. increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 129.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,268 shares of the technology company's stock after buying an additional 210,300 shares during the quarter. Federated Hermes Inc. owned 0.29% of Extreme Networks worth $6,584,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in Extreme Networks by 167,176.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company's stock worth $60,137,000 after purchasing an additional 3,407,064 shares during the period. Vanguard Group Inc. lifted its stake in Extreme Networks by 17.0% during the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company's stock worth $312,191,000 after purchasing an additional 1,877,727 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Extreme Networks in the third quarter valued at approximately $38,999,000. Fred Alger Management LLC bought a new position in shares of Extreme Networks in the third quarter valued at approximately $33,920,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Extreme Networks in the third quarter valued at approximately $31,284,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Stock Up 2.4 %

NASDAQ EXTR traded up $0.27 on Friday, reaching $11.60. The company had a trading volume of 2,168,955 shares, compared to its average volume of 2,051,013. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 3.98 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. Extreme Networks, Inc. has a 1-year low of $10.57 and a 1-year high of $32.73. The company's fifty day moving average is $11.61 and its 200-day moving average is $15.32.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. On average, research analysts forecast that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

EXTR has been the subject of a number of research analyst reports. TheStreet cut shares of Extreme Networks from a "b-" rating to a "c+" rating in a research note on Tuesday, February 20th. StockNews.com cut shares of Extreme Networks from a "buy" rating to a "hold" rating in a research note on Thursday, February 1st. Needham & Company LLC dropped their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a "buy" rating for the company in a research report on Thursday, February 1st. B. Riley upgraded shares of Extreme Networks from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Monday, April 15th. Finally, Rosenblatt Securities lowered shares of Extreme Networks from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $22.36.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 28,443 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction 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 available at this hyperlink. 3.32% of the stock is owned by insiders.

Extreme Networks Company 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.