Congress Asset Management Co. MA Increases Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Congress Asset Management Co. MA lifted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTRFree Report) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,376,654 shares of the technology company’s stock after buying an additional 141,015 shares during the period. Congress Asset Management Co. MA owned about 1.07% of Extreme Networks worth $24,284,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EXTR. Allworth Financial LP boosted its position in shares of Extreme Networks by 4,924.4% during the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after buying an additional 2,019 shares during the last quarter. Tucker Asset Management LLC purchased a new position in Extreme Networks in the third quarter worth $41,000. Quest Partners LLC purchased a new position in Extreme Networks in the fourth quarter worth $104,000. Harvest Fund Management Co. Ltd boosted its position in Extreme Networks by 66.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,227 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,481 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in Extreme Networks in the third quarter worth $162,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 1.0 %

Shares of NASDAQ:EXTR traded up $0.12 on Friday, hitting $12.17. 1,254,529 shares of the company traded hands, compared to its average volume of 1,518,913. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $32.73. The stock has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $13.32. The company has a market cap of $1.58 billion, a PE ratio of -173.86, a PEG ratio of 8.95 and a beta of 1.78. The company has a quick ratio of 0.61, a current ratio of 0.96 and a debt-to-equity ratio of 2.78.

Extreme Networks (NASDAQ:EXTRGet Free Report) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The firm had revenue of $211.04 million during the quarter, compared to analysts’ expectations of $207.80 million. As a group, research analysts expect that Extreme Networks, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

EXTR has been the topic of a number of analyst reports. TheStreet lowered Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Craig Hallum raised Extreme Networks from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $14.00 in a report on Thursday, May 16th. Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Monday, June 10th. Rosenblatt Securities upgraded Extreme Networks from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $17.00 in a research report on Thursday, May 2nd. Finally, B. Riley raised their price target on Extreme Networks from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $20.64.

Check Out Our Latest Report on EXTR

Extreme Networks Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Extreme Networks (NASDAQ:EXTR)

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