Shares of Extreme Networks, Inc. (NASDAQ:EXTR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.93 and last traded at $11.89, with a volume of 711,194 shares changing hands. The stock had previously closed at $11.70.
EXTR has been the topic of a number of research analyst reports. Zacks Investment Research lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.50 target price (up previously from $9.50) on shares of Extreme Networks in a report on Friday, June 2nd. ValuEngine raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub lowered Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $11.67.
The stock’s market cap is $1.30 billion. The firm has a 50 day moving average of $10.40 and a 200 day moving average of $8.98.
Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The firm had revenue of $178.70 million for the quarter, compared to the consensus estimate of $171.96 million. Extreme Networks had a positive return on equity of 41.17% and a negative net margin of 1.42%. Extreme Networks’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. On average, equities research analysts expect that Extreme Networks, Inc. will post $0.70 earnings per share for the current fiscal year.
In other news, Director Kathleen M. Holmgren bought 5,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were bought at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the purchase, the director now owns 36,662 shares in the company, valued at $421,246.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Meyercord sold 65,000 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $10.10, for a total value of $656,500.00. Following the transaction, the insider now owns 563,034 shares in the company, valued at approximately $5,686,643.40. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Extreme Networks by 10.9% during the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,378 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Extreme Networks by 13.0% during the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after purchasing an additional 1,565 shares during the period. Legal & General Group Plc increased its stake in shares of Extreme Networks by 7.4% during the second quarter. Legal & General Group Plc now owns 26,483 shares of the technology company’s stock worth $245,000 after purchasing an additional 1,819 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Extreme Networks by 7.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,500 shares of the technology company’s stock worth $229,000 after purchasing an additional 2,000 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Extreme Networks by 12.5% during the first quarter. Nordea Investment Management AB now owns 27,088 shares of the technology company’s stock worth $203,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 81.83% 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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