Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 373.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,066,743 shares of the technology company’s stock after acquiring an additional 841,395 shares during the quarter. Victory Capital Management Inc. owned 0.82% of Extreme Networks worth $14,348,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Extreme Networks by 101.8% during the 1st quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after purchasing an additional 220,763 shares during the last quarter. Seven Eight Capital LP raised its holdings in Extreme Networks by 724.8% in the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after acquiring an additional 170,395 shares in the last quarter. Mirador Capital Partners LP boosted its stake in Extreme Networks by 68.1% during the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock valued at $2,850,000 after acquiring an additional 100,075 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Extreme Networks by 297.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after acquiring an additional 60,131 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its position in shares of Extreme Networks by 11.4% in the 4th quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock worth $24,284,000 after purchasing an additional 141,015 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $14.85 on Friday. 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 has a 50-day simple moving average of $14.10 and a 200 day simple moving average of $12.51. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $25.51. The company has a market cap of $1.94 billion, a PE ratio of -212.14, a P/E/G ratio of 3.19 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last posted its 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 for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EXTR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum increased their target price on Extreme Networks from $14.00 to $17.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.32% of the stock is owned by corporate insiders.

Extreme Networks Company 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.