Goldman Sachs Group Inc. Boosts Position in Extreme Networks, Inc. (EXTR)
Goldman Sachs Group Inc. increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 474.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,593,826 shares of the technology company’s stock after buying an additional 1,316,604 shares during the quarter. Goldman Sachs Group Inc. owned about 1.45% of Extreme Networks worth $14,695,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in Extreme Networks during the 2nd quarter worth approximately $101,000. Amalgamated Bank raised its stake in Extreme Networks by 10.9% during the 2nd quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after buying an additional 1,378 shares during the period. FNY Partners Fund LP acquired a new position in Extreme Networks during the 1st quarter worth approximately $112,000. Paradigm Asset Management Co. LLC acquired a new position in Extreme Networks during the 2nd quarter worth approximately $141,000. Finally, Cornerstone Financial Partners LLC acquired a new position in Extreme Networks during the 2nd quarter worth approximately $148,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Kathleen M. Holmgren bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was acquired at an average price of $11.49 per share, with a total value of $57,450.00. Following the transaction, the director now owns 36,662 shares in the company, valued at approximately $421,246.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the completion of the sale, the insider now directly owns 471,653 shares of the company’s stock, valued at approximately $4,961,789.56. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of research analysts recently weighed in on the company. ValuEngine downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, August 18th. BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Needham & Company LLC increased their price objective on Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $11.67.
Extreme Networks, Inc. (NASDAQ:EXTR) opened at 11.90 on Tuesday. The company’s market capitalization is $1.35 billion. Extreme Networks, Inc. has a one year low of $4.02 and a one year high of $13.20. The firm’s 50-day moving average price is $11.77 and its 200 day moving average price is $9.74.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Monday, August 14th. The technology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $178.70 million during the quarter, compared to the consensus estimate of $171.96 million. During the same period last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities research analysts expect that Extreme Networks, Inc. will post $0.65 earnings per share for the current fiscal year.
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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