American Century Companies Inc. Raises Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

American Century Companies Inc. grew its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 19.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,157 shares of the technology company’s stock after acquiring an additional 39,260 shares during the period. American Century Companies Inc. owned about 0.18% of Extreme Networks worth $3,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Andina Capital Management LLC lifted its holdings in Extreme Networks by 3.8% in the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after purchasing an additional 719 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after buying an additional 1,600 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after buying an additional 1,741 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Extreme Networks during the first quarter worth $27,000. Finally, Illinois Municipal Retirement Fund grew its stake in Extreme Networks by 3.1% during the first quarter. Illinois Municipal Retirement Fund now owns 77,836 shares of the technology company’s stock valued at $898,000 after acquiring an additional 2,375 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.32% of the company’s stock.

Extreme Networks Trading Up 0.7 %

EXTR opened at $15.09 on Friday. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $25.51. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05. The stock has a 50-day moving average of $14.37 and a 200 day moving average of $12.68. The firm has a market cap of $1.96 billion, a P/E ratio of -215.57, a P/E/G ratio of 3.46 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last released 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). The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, research analysts forecast that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on EXTR shares. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum boosted their target price on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

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.