Rhumbline Advisers Raises Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Rhumbline Advisers lifted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380,641 shares of the technology company’s stock after acquiring an additional 13,700 shares during the period. Rhumbline Advisers owned 0.29% of Extreme Networks worth $5,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Extreme Networks by 13.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,313,441 shares of the technology company’s stock worth $23,169,000 after purchasing an additional 158,906 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Extreme Networks by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock valued at $43,976,000 after acquiring an additional 194,802 shares during the period. Principal Financial Group Inc. raised its stake in Extreme Networks by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 727,432 shares of the technology company’s stock valued at $12,832,000 after acquiring an additional 5,121 shares during the last quarter. Norges Bank acquired a new stake in Extreme Networks during the 4th quarter worth approximately $33,267,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Extreme Networks by 41.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 93,162 shares of the technology company’s stock valued at $1,643,000 after purchasing an additional 27,323 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.32% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $14.85 on Monday. The firm’s fifty day simple moving average is $14.10 and its 200-day simple moving average is $12.51. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. The stock has a market cap of $1.94 billion, a PE ratio of -212.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.77. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $25.51.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The company had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. Analysts expect that Extreme Networks, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

EXTR has been the subject of several analyst reports. Craig Hallum upped their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.90.

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.