Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,952,485 shares of the technology company’s stock after selling 237,931 shares during the period. Renaissance Technologies LLC owned 1.50% of Extreme Networks worth $26,261,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EXTR. Acadian Asset Management LLC acquired a new stake in Extreme Networks in the first quarter worth $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Extreme Networks by 1,635.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,709 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Extreme Networks during the fourth quarter valued at $82,000. Gladius Capital Management LP acquired a new position in shares of Extreme Networks during the second quarter valued at $90,000. Finally, Quest Partners LLC acquired a new position in shares of Extreme Networks during the fourth quarter valued at $104,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on EXTR shares. Craig Hallum raised their price target on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.90.

Extreme Networks Trading Up 3.9 %

NASDAQ:EXTR opened at $15.58 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $25.51. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -222.57, a price-to-earnings-growth ratio of 3.19 and a beta of 1.77. The stock has a fifty day simple moving average of $14.24 and a 200 day simple moving average of $12.58.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The company had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. During the same quarter last year, the business earned $0.24 EPS. The company’s revenue for the quarter was down 29.5% compared to the same quarter last year. Sell-side analysts forecast that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

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

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.