Engineers Gate Manager LP boosted its position in Extreme Networks, Inc (NASDAQ:EXTR) by 65.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,468 shares of the technology company’s stock after acquiring an additional 78,995 shares during the period. Engineers Gate Manager LP owned 0.17% of Extreme Networks worth $1,099,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Extreme Networks by 5.7% during the second quarter. BlackRock Inc. now owns 15,963,564 shares of the technology company’s stock valued at $127,071,000 after acquiring an additional 855,965 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new stake in shares of Extreme Networks during the second quarter valued at approximately $47,680,000. FMR LLC increased its position in shares of Extreme Networks by 925.2% during the second quarter. FMR LLC now owns 3,381,200 shares of the technology company’s stock valued at $26,914,000 after acquiring an additional 3,051,400 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Extreme Networks during the third quarter valued at approximately $8,768,000. Finally, Royce & Associates LP increased its position in shares of Extreme Networks by 68.7% during the second quarter. Royce & Associates LP now owns 1,577,861 shares of the technology company’s stock valued at $12,560,000 after acquiring an additional 642,600 shares during the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.
NASDAQ:EXTR opened at $6.57 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.23 and a quick ratio of 1.01. Extreme Networks, Inc has a 1 year low of $4.81 and a 1 year high of $15.55. The firm has a market capitalization of $791.68 million, a price-to-earnings ratio of 14.93, a PEG ratio of 1.33 and a beta of 0.90.
Extreme Networks (NASDAQ:EXTR) last released its earnings results on Friday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. Extreme Networks had a positive return on equity of 35.66% and a negative net margin of 5.96%. The business had revenue of $239.89 million during the quarter, compared to the consensus estimate of $233.36 million. During the same period last year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Extreme Networks, Inc will post 0.33 EPS for the current fiscal year.
A number of analysts recently commented on the company. DA Davidson decreased their price target on Extreme Networks to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. ValuEngine downgraded Extreme Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Cowen downgraded Extreme Networks from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $16.00 to $6.50 in a research report on Thursday, August 9th. Finally, JMP Securities decreased their target price on Extreme Networks from $12.00 to $9.00 and set a “market outperform” rating for the company in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.70.
Extreme Networks Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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