Canada Pension Plan Investment Board Sells 280,300 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Canada Pension Plan Investment Board lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 27.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,400 shares of the technology company’s stock after selling 280,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.56% of Extreme Networks worth $9,837,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EXTR. Vanguard Group Inc. lifted its holdings 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 valued at $175,191,000 after acquiring an additional 2,191,181 shares during the period. William Blair Investment Management LLC bought a new position in Extreme Networks during the 2nd quarter valued at about $25,409,000. Norges Bank acquired a new position in Extreme Networks in the fourth quarter valued at about $33,267,000. Victory Capital Management Inc. grew its stake in Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after buying an additional 841,395 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Extreme Networks during the first quarter worth approximately $4,175,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In other Extreme Networks 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 value of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.32% of the stock is owned by corporate insiders.

Extreme Networks Stock Down 0.3 %

NASDAQ:EXTR opened at $14.93 on Wednesday. The stock’s fifty day moving average price is $14.32 and its two-hundred day moving average price is $12.65. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -213.29, a P/E/G ratio of 3.19 and a beta of 1.77. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $25.51. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). The firm had revenue of $256.65 million during 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%. Extreme Networks’s revenue was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. On average, analysts anticipate that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXTR shares. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum boosted their price objective on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note 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 company’s stock. According to data from MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

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.