111 Capital Purchases New Position in Extreme Networks, Inc. $EXTR

111 Capital acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,962 shares of the technology company’s stock, valued at approximately $215,000.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Extreme Networks by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company’s stock valued at $242,445,000 after acquiring an additional 406,350 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in shares of Extreme Networks by 0.7% in the first quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company’s stock valued at $69,129,000 after acquiring an additional 35,400 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Extreme Networks by 13.9% in the first quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company’s stock valued at $66,314,000 after acquiring an additional 611,462 shares during the period. Trigran Investments Inc. boosted its holdings in shares of Extreme Networks by 30.3% in the first quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company’s stock valued at $41,098,000 after acquiring an additional 722,121 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Extreme Networks by 1.2% in the first quarter. American Century Companies Inc. now owns 2,871,898 shares of the technology company’s stock valued at $37,995,000 after acquiring an additional 34,727 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $21.52, for a total value of $301,280.00. Following the completion of the transaction, the chief financial officer owned 126,202 shares in the company, valued at $2,715,867.04. This trade represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $17.18, for a total value of $613,755.50. Following the completion of the transaction, the chief executive officer owned 1,541,282 shares of the company’s stock, valued at approximately $26,479,224.76. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,725 shares of company stock worth $2,015,216. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

EXTR has been the subject of several research analyst reports. UBS Group increased their price objective on Extreme Networks from $15.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Extreme Networks in a report on Saturday, September 27th. Rosenblatt Securities increased their price target on Extreme Networks from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Lake Street Capital raised Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 7th. Finally, Needham & Company LLC increased their price target on Extreme Networks from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and an average price target of $22.92.

Extreme Networks Trading Down 0.6%

NASDAQ:EXTR opened at $20.05 on Wednesday. The stock has a fifty day moving average price of $20.77 and a two-hundred day moving average price of $17.22. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -401.00, a PEG ratio of 2.11 and a beta of 1.81. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $22.89.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. The firm had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%.Extreme Networks’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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.