Millennium Management LLC Lowers Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Millennium Management LLC trimmed its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,246,505 shares of the technology company’s stock after selling 251,304 shares during the quarter. Millennium Management LLC owned 0.96% of Extreme Networks worth $16,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Grizzlyrock Capital LLC bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $176,000. Congress Asset Management Co. MA grew its stake in Extreme Networks by 11.4% in the 4th quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock valued at $24,284,000 after purchasing an additional 141,015 shares during the period. Vanguard Group Inc. increased its position in shares of Extreme Networks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,989,988 shares of the technology company’s stock valued at $229,143,000 after purchasing an additional 94,881 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Extreme Networks during the 1st quarter worth $256,000. Finally, Mirador Capital Partners LP boosted its holdings in shares of Extreme Networks by 68.1% in the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after buying an additional 100,075 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on EXTR shares. Craig Hallum boosted their target price on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. 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. 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 an average rating of “Moderate Buy” and an average target price of $15.90.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.32% of the stock is currently owned by corporate insiders.

Extreme Networks Stock Up 0.6 %

EXTR opened at $14.94 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 business’s 50-day moving average price is $14.51 and its 200-day moving average price is $12.83. The company 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.

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

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.