Copper Rock Capital Partners LLC purchased a new stake in Extreme Networks, Inc (NASDAQ:EXTR) in the fourth quarter, Holdings Channel reports. The fund purchased 1,938,528 shares of the technology company’s stock, valued at approximately $24,503,000.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Extreme Networks by 11.5% in the second 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 grew its position in Extreme Networks by 4.7% in the second quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock valued at $21,273,000 after acquiring an additional 102,591 shares during the last quarter. FMR LLC grew its position in Extreme Networks by 57.9% in the second quarter. FMR LLC now owns 2,130,799 shares of the technology company’s stock valued at $19,647,000 after acquiring an additional 781,130 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Extreme Networks by 474.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock valued at $14,695,000 after acquiring an additional 1,316,604 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC bought a new position in Extreme Networks in the second quarter valued at about $14,029,000. 80.87% of the stock is owned by institutional investors and hedge funds.
EXTR has been the topic of a number of recent analyst reports. ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut Extreme Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Craig Hallum reiterated a “buy” rating and issued a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Needham & Company LLC reiterated a “buy” rating on shares of Extreme Networks in a research report on Friday, November 10th. Finally, Cowen initiated coverage on Extreme Networks in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Extreme Networks has a consensus rating of “Buy” and an average price target of $14.17.
Extreme Networks (NASDAQ:EXTR) last released its earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $211.72 million for the quarter, compared to analysts’ expectations of $203.86 million. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The business’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. research analysts forecast that Extreme Networks, Inc will post 0.6 earnings per share for the current year.
In other news, Director Charles Carinalli sold 20,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $12.91, for a total transaction of $258,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total value of $138,100.00. Following the sale, the director now owns 99,523 shares in the company, valued at $1,374,412.63. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
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Extreme Networks Company 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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