Vanguard Group Inc. Grows Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Vanguard Group Inc. grew its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,895,107 shares of the technology company’s stock after acquiring an additional 1,877,727 shares during the quarter. Vanguard Group Inc. owned about 9.95% of Extreme Networks worth $312,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in Extreme Networks by 49.8% during the fourth quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock worth $33,000 after buying an additional 592 shares in the last quarter. Meritage Portfolio Management lifted its position in Extreme Networks by 5.5% during the third quarter. Meritage Portfolio Management now owns 12,341 shares of the technology company’s stock worth $299,000 after buying an additional 638 shares in the last quarter. Westover Capital Advisors LLC increased its stake in Extreme Networks by 0.4% during the third quarter. Westover Capital Advisors LLC now owns 161,860 shares of the technology company’s stock worth $3,919,000 after acquiring an additional 716 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Extreme Networks by 21.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 4,239 shares of the technology company’s stock worth $81,000 after acquiring an additional 752 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Extreme Networks by 0.3% during the third quarter. Nordea Investment Management AB now owns 228,483 shares of the technology company’s stock worth $5,596,000 after acquiring an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 28,443 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $11.57 on Thursday. Extreme Networks, Inc. has a 52 week low of $11.12 and a 52 week high of $32.73. The company has a fifty day simple moving average of $12.95 and a two-hundred day simple moving average of $17.18. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 4.16 and a beta of 1.91.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. The company had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. As a group, equities analysts anticipate that Extreme Networks, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXTR has been the subject of several recent analyst reports. Needham & Company LLC cut their target price on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, February 1st. B. Riley cut their target price on Extreme Networks from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. UBS Group cut Extreme Networks from a “buy” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.36.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.