Raymond James & Associates Has $6.92 Million Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Raymond James & Associates raised its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 460,153 shares of the technology company’s stock after acquiring an additional 9,217 shares during the period. Raymond James & Associates owned approximately 0.35% of Extreme Networks worth $6,916,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Extreme Networks during the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the period. Gladius Capital Management LP bought a new position in Extreme Networks during the second quarter valued at about $90,000. Finally, Hennessy Advisors Inc. purchased a new stake in Extreme Networks during the second quarter worth about $148,000. Institutional investors own 91.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXTR. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum increased their price objective on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Extreme Networks has a consensus rating of “Moderate Buy” and an average price target of $15.90.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.32% of the company’s stock.

Extreme Networks Price Performance

NASDAQ:EXTR opened at $15.92 on Thursday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -227.43, a P/E/G ratio of 3.37 and a beta of 1.76. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90. The stock has a fifty day moving average of $14.86 and a 200 day moving average of $13.26. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $20.83.

Extreme Networks (NASDAQ:EXTR) last issued 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 business 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 was down 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, research analysts expect that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

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.