GAMMA Investing LLC Boosts Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

GAMMA Investing LLC raised its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 109.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,980 shares of the technology company’s stock after purchasing an additional 1,035 shares during the period. GAMMA Investing LLC’s holdings in Extreme Networks were worth $30,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after acquiring an additional 2,191,181 shares in the last quarter. William Blair Investment Management LLC bought a new position in Extreme Networks during the second quarter worth $25,409,000. Rubric Capital Management LP boosted its holdings in Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after purchasing an additional 1,804,744 shares during the period. Victory Capital Management Inc. increased its stake in Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after purchasing an additional 841,395 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Extreme Networks by 265.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after purchasing an additional 531,500 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EXTR shares. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum raised their target price on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research note 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.90.

Extreme Networks Stock Down 0.6 %

EXTR opened at $15.06 on Friday. 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 12 month low of $10.49 and a 12 month high of $22.25. The stock’s 50 day moving average price is $14.85 and its 200 day moving average price is $13.07. The stock has a market cap of $1.96 billion, a P/E ratio of -215.14, a P/E/G ratio of 3.56 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The company had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue was down 29.5% on a year-over-year basis. As a group, research analysts predict that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. The trade was 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 at the SEC website. 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.