Extreme Networks, Inc. (EXTR) Position Boosted by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can boosted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 228.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,411 shares of the technology company’s stock after acquiring an additional 12,811 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Extreme Networks were worth $169,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Partners Fund LP purchased a new position in Extreme Networks during the 1st quarter valued at $112,000. Bank of Montreal Can boosted its holdings in Extreme Networks by 3,689.4% during the 1st quarter. Bank of Montreal Can now owns 15,006 shares of the technology company’s stock valued at $113,000 after acquiring an additional 14,610 shares during the period. Bank of America Corp DE boosted its holdings in Extreme Networks by 29.0% during the 1st quarter. Bank of America Corp DE now owns 18,318 shares of the technology company’s stock valued at $138,000 after acquiring an additional 4,118 shares during the period. Cornerstone Financial Partners LLC purchased a new position in Extreme Networks during the 2nd quarter valued at $148,000. Finally, Laurion Capital Management LP purchased a new position in Extreme Networks during the 1st quarter valued at $162,000. Institutional investors own 81.87% of the company’s stock.
EXTR has been the subject of a number of recent analyst reports. ValuEngine upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Needham & Company LLC boosted their price objective on Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. BidaskClub cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $11.67.
Shares of Extreme Networks, Inc. (NASDAQ:EXTR) opened at 11.23 on Friday. Extreme Networks, Inc. has a one year low of $3.79 and a one year high of $11.90. The stock’s market capitalization is $1.24 billion. The firm has a 50 day moving average price of $10.33 and a 200 day moving average price of $8.90.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Monday, August 14th. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Extreme Networks had a positive return on equity of 41.17% and a negative net margin of 1.42%. The firm had revenue of $178.70 million for the quarter, compared to analysts’ expectations of $171.96 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. Analysts predict that Extreme Networks, Inc. will post $0.70 earnings per share for the current fiscal year.
In other news, insider Edward Meyercord sold 65,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $10.10, for a total transaction of $656,500.00. Following the completion of the transaction, the insider now directly owns 563,034 shares in the company, valued at $5,686,643.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kathleen M. Holmgren purchased 5,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director now owns 36,662 shares of the company’s stock, valued at $421,246.38. The disclosure for this purchase can be found here. Company insiders own 1.91% of the company’s stock.
About Extreme Networks
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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