Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1,635.1% during the 2nd quarter, Holdings Channel reports. The firm owned 4,997 shares of the technology company’s stock after buying an additional 4,709 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Extreme Networks were worth $67,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Extreme Networks by 16.9% during the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after purchasing an additional 2,191,181 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Extreme Networks by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock valued at $43,976,000 after acquiring an additional 194,802 shares in the last quarter. Norges Bank acquired a new stake in Extreme Networks in the fourth quarter valued at approximately $33,267,000. Congress Asset Management Co. MA raised its holdings in Extreme Networks by 11.4% in the fourth quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock valued at $24,284,000 after acquiring an additional 141,015 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Extreme Networks by 13.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,313,441 shares of the technology company’s stock valued at $23,169,000 after acquiring an additional 158,906 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $13.62 on Tuesday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -194.86, a P/E/G ratio of 3.16 and a beta of 1.76. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $26.02. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. The firm’s 50 day moving average is $13.99 and its two-hundred day moving average is $12.45.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). The company had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The business’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Research analysts forecast that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXTR has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum raised their target price on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,754,637.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.32% of the company’s stock.

Extreme Networks Profile

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.