Prudential Financial Inc. grew its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 74.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 961,082 shares of the technology company’s stock after purchasing an additional 410,903 shares during the period. Prudential Financial Inc. owned approximately 0.81% of Extreme Networks worth $6,218,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Comerica Bank lifted its stake in shares of Extreme Networks by 1.6% in the 1st quarter. Comerica Bank now owns 115,743 shares of the technology company’s stock valued at $877,000 after purchasing an additional 1,789 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Extreme Networks by 2.4% in the 1st quarter. Texas Permanent School Fund now owns 79,278 shares of the technology company’s stock valued at $594,000 after purchasing an additional 1,840 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Extreme Networks by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 184,214 shares of the technology company’s stock valued at $1,192,000 after purchasing an additional 4,096 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Extreme Networks in the second quarter worth approximately $27,000. Finally, California Public Employees Retirement System raised its holdings in shares of Extreme Networks by 3.7% in the first quarter. California Public Employees Retirement System now owns 198,147 shares of the technology company’s stock worth $1,484,000 after buying an additional 7,047 shares during the period. 80.80% of the stock is owned by institutional investors and hedge funds.
In other Extreme Networks news, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.22, for a total transaction of $822,000.00. Following the transaction, the insider now directly owns 482,416 shares in the company, valued at approximately $3,965,459.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.45% of the company’s stock.
Several equities research analysts have recently weighed in on EXTR shares. ValuEngine downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Lake Street Capital started coverage on Extreme Networks in a report on Monday, July 29th. They issued a “buy” rating and a $9.00 price target on the stock. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “strong-buy” rating and set a $9.00 price target on the stock in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.33.
Shares of NASDAQ EXTR traded up $0.01 during midday trading on Thursday, hitting $7.41. The company’s stock had a trading volume of 48,124 shares, compared to its average volume of 1,313,375. The company has a current ratio of 1.24, a quick ratio of 1.06 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $7.33 and its two-hundred day moving average is $7.02. Extreme Networks, Inc has a 12-month low of $4.81 and a 12-month high of $8.59. The firm has a market cap of $860.56 million, a P/E ratio of 56.81 and a beta of 1.64.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $252.40 million for the quarter, compared to the consensus estimate of $244.72 million. Extreme Networks had a positive return on equity of 10.98% and a negative net margin of 2.60%. Extreme Networks’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, analysts predict that Extreme Networks, Inc will post 0.43 earnings per share for the current fiscal year.
Extreme Networks Company 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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