Amalgamated Bank Reduces Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Amalgamated Bank decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,461 shares of the technology company’s stock after selling 1,342 shares during the period. Amalgamated Bank’s holdings in Extreme Networks were worth $531,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE lifted its position in shares of Extreme Networks by 145.2% during the 4th quarter. US Bancorp DE now owns 35,360 shares of the technology company’s stock valued at $624,000 after acquiring an additional 20,942 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Extreme Networks during the 4th quarter worth approximately $222,000. Eagle Asset Management Inc. grew its stake in Extreme Networks by 8.6% in the 4th quarter. Eagle Asset Management Inc. now owns 216,451 shares of the technology company’s stock worth $3,818,000 after acquiring an additional 17,159 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Extreme Networks in the 4th quarter worth approximately $1,372,000. Finally, Seven Eight Capital LP boosted its holdings in shares of Extreme Networks by 724.8% in the 4th quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after purchasing an additional 170,395 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXTR. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum boosted their target price on shares of Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.90.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.32% of the stock is owned by insiders.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $15.10 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $25.51. The firm has a 50-day simple moving average of $14.40 and a 200 day simple moving average of $12.71. The company has a market cap of $1.96 billion, a PE ratio of -215.71, a P/E/G ratio of 3.46 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). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. During the same quarter last year, the company posted $0.24 EPS. Extreme Networks’s revenue for the quarter was down 29.5% on a year-over-year basis. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.25 EPS for the current year.

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.