Extreme Networks, Inc. (EXTR) Stake Raised by Engineers Gate Manager LP
Engineers Gate Manager LP lifted its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 122.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,504 shares of the technology company’s stock after buying an additional 105,819 shares during the quarter. Engineers Gate Manager LP owned approximately 0.17% of Extreme Networks worth $1,775,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 4.8% in the first quarter. Vanguard Group Inc. now owns 7,210,885 shares of the technology company’s stock worth $54,154,000 after buying an additional 331,478 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Extreme Networks by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock valued at $30,757,000 after purchasing an additional 466,851 shares in the last quarter. RK Capital Management LLC raised its stake in Extreme Networks by 164.7% in the first quarter. RK Capital Management LLC now owns 3,608,869 shares of the technology company’s stock valued at $27,103,000 after purchasing an additional 2,245,634 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Extreme Networks by 30.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock valued at $19,897,000 after purchasing an additional 618,989 shares in the last quarter. Finally, State Street Corp raised its stake in Extreme Networks by 15.6% in the first quarter. State Street Corp now owns 2,204,562 shares of the technology company’s stock valued at $16,558,000 after purchasing an additional 297,948 shares in the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages recently weighed in on EXTR. ValuEngine raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, August 18th. BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.50 target price (up from $9.50) on shares of Extreme Networks in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.10.
Shares of Extreme Networks, Inc. (NASDAQ EXTR) opened at 11.84 on Tuesday. Extreme Networks, Inc. has a 52 week low of $3.75 and a 52 week high of $11.88. The company has a 50-day moving average of $10.04 and a 200-day moving average of $8.77. The stock’s market capitalization is $1.31 billion.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Extreme Networks had a positive return on equity of 43.34% and a negative net margin of 1.42%. The business had revenue of $178.70 million during the quarter, compared to the consensus estimate of $171.96 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, analysts anticipate that Extreme Networks, Inc. will post $0.70 EPS for the current year.
In other news, Director Kathleen M. Holmgren acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average cost of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director now directly owns 36,662 shares of the company’s stock, valued at $421,246.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edward Meyercord sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total value of $1,052,000.00. Following the sale, the insider now directly owns 471,653 shares in the company, valued at $4,961,789.56. The disclosure for this sale can be found here. 1.91% of the stock is owned by corporate insiders.
Extreme Networks Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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