Extreme Networks, Inc. (NASDAQ:EXTR) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 61.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 689,222 shares of the technology company’s stock after buying an additional 261,322 shares during the period. Point72 Asset Management L.P. owned 0.53% of Extreme Networks worth $9,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Extreme Networks by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after purchasing an additional 2,191,181 shares during the period. William Blair Investment Management LLC acquired a new position in Extreme Networks in the 2nd quarter valued at about $25,409,000. Rubric Capital Management LP lifted its position in Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares during the period. Victory Capital Management Inc. lifted its position in Extreme Networks by 373.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after acquiring an additional 841,395 shares during the period. Finally, Clearline Capital LP grew its stake in shares of Extreme Networks by 252.4% in the 2nd quarter. Clearline Capital LP now owns 613,360 shares of the technology company’s stock valued at $8,250,000 after purchasing an additional 439,321 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Down 0.5 %

EXTR stock opened at $15.03 on Tuesday. 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 company’s 50-day moving average price is $14.40 and its 200 day moving average price is $12.72. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $25.51. The company has a market cap of $1.95 billion, a P/E ratio of -214.71, a P/E/G ratio of 3.46 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). The firm had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. 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 earnings per share. On average, research 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 recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum raised their target price on shares of Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.32% of the stock is currently owned by company insiders.

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.