Dimensional Fund Advisors LP reduced its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,645,025 shares of the technology company’s stock after selling 4,404 shares during the quarter. Dimensional Fund Advisors LP owned about 2.40% of Extreme Networks worth $24,388,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Extreme Networks by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock valued at $74,138,000 after purchasing an additional 830,103 shares in the last quarter. State Street Corp boosted its stake in shares of Extreme Networks by 15.6% during the 1st quarter. State Street Corp now owns 2,204,562 shares of the technology company’s stock worth $16,558,000 after acquiring an additional 297,948 shares in the last quarter. FMR LLC boosted its stake in shares of Extreme Networks by 57.9% during the 2nd quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock worth $19,647,000 after acquiring an additional 781,130 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Extreme Networks by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,377,811 shares of the technology company’s stock worth $12,703,000 after acquiring an additional 99,289 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Extreme Networks by 49.2% during the 1st quarter. Morgan Stanley now owns 1,145,086 shares of the technology company’s stock worth $8,600,000 after acquiring an additional 377,822 shares in the last quarter. 80.05% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on EXTR. BidaskClub lowered Extreme Networks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, August 18th. ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Needham & Company LLC raised 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Extreme Networks presently has an average rating of “Hold” and a consensus target price of $11.67.
Shares of Extreme Networks, Inc. (EXTR) opened at $11.92 on Monday. The stock has a market capitalization of $1,347.94, a price-to-earnings ratio of 34.06, a PEG ratio of 1.37 and a beta of 1.13. Extreme Networks, Inc. has a 1-year low of $4.10 and a 1-year high of $13.20. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 0.75.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 posted $0.10 earnings per share. Extreme Networks’s revenue was up 28.0% on a year-over-year basis. sell-side analysts expect that Extreme Networks, Inc. will post 0.51 EPS for the current fiscal year.
In related news, Director Kathleen M. Holmgren bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the acquisition, the director now directly owns 36,662 shares in the company, valued at $421,246.38. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $10.52, for a total value of $1,052,000.00. Following the transaction, the insider now owns 471,653 shares in the company, valued at $4,961,789.56. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
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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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