Clearbridge Investments LLC Boosts Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Clearbridge Investments LLC raised its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 42.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 855,541 shares of the technology company’s stock after buying an additional 256,765 shares during the quarter. Clearbridge Investments LLC owned about 0.66% of Extreme Networks worth $11,507,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. grew its holdings in shares of Extreme Networks by 61.1% during the second quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company’s stock worth $9,270,000 after purchasing an additional 261,322 shares in the last quarter. Clearline Capital LP grew its holdings in shares of Extreme Networks by 252.4% during the second quarter. Clearline Capital LP now owns 613,360 shares of the technology company’s stock worth $8,250,000 after purchasing an additional 439,321 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Extreme Networks by 23.1% during the second quarter. SkyView Investment Advisors LLC now owns 93,308 shares of the technology company’s stock worth $1,255,000 after purchasing an additional 17,510 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Extreme Networks by 491.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock worth $4,488,000 after purchasing an additional 277,196 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Extreme Networks by 75.3% during the second quarter. Mackenzie Financial Corp now owns 26,888 shares of the technology company’s stock worth $362,000 after purchasing an additional 11,549 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 0.6 %

Shares of EXTR opened at $14.94 on Friday. The firm has a market cap of $1.94 billion, a P/E ratio of -213.43, a P/E/G ratio of 3.46 and a beta of 1.76. The stock has a 50 day simple moving average of $14.51 and a two-hundred day simple moving average of $12.83. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $25.51.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data 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 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 the consensus estimate of $253.21 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, analysts forecast that Extreme Networks, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXTR shares. Needham & Company LLC reissued a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum upped their target price on 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.90.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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.