Extreme Networks, Inc (EXTR) Position Cut by Cadence Capital Management LLC

Cadence Capital Management LLC lessened its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 45.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,556 shares of the technology company’s stock after selling 94,879 shares during the period. Cadence Capital Management LLC owned 0.10% of Extreme Networks worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXTR. Cramer Rosenthal Mcglynn LLC bought a new position in Extreme Networks in the 2nd quarter valued at about $14,029,000. Goldman Sachs Group Inc. grew its position in Extreme Networks by 474.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock valued at $14,695,000 after buying an additional 1,316,604 shares in the last quarter. Ratan Capital Management LP bought a new position in Extreme Networks in the 2nd quarter valued at about $11,106,000. BNP Paribas Arbitrage SA grew its position in Extreme Networks by 56,018.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 856,934 shares of the technology company’s stock valued at $7,901,000 after buying an additional 855,407 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Extreme Networks by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock valued at $74,138,000 after buying an additional 830,103 shares in the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.

Extreme Networks, Inc (NASDAQ EXTR) opened at $12.91 on Friday. Extreme Networks, Inc has a 12-month low of $4.25 and a 12-month high of $14.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31. The firm has a market cap of $1,464.25, a PE ratio of 30.02, a PEG ratio of 1.26 and a beta of 1.14.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The company had revenue of $211.72 million during the quarter, compared to analyst estimates of $203.86 million. During the same quarter last year, the firm posted $0.07 EPS. The business’s revenue for the quarter was up 72.5% on a year-over-year basis. sell-side analysts expect that Extreme Networks, Inc will post 0.6 earnings per share for the current year.

In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the transaction, the director now owns 99,523 shares in the company, valued at approximately $1,374,412.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles Carinalli sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

EXTR has been the subject of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. BidaskClub upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, August 18th. ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Craig Hallum restated a “buy” rating and set a $17.00 price objective (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $13.25.

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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.

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

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