Dimensional Fund Advisors LP Sells 88,013 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Dimensional Fund Advisors LP lowered its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 3.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,304,105 shares of the technology company’s stock after selling 88,013 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Extreme Networks were worth $30,990,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Extreme Networks during the first quarter valued at approximately $27,000. Hennessy Advisors Inc. bought a new stake in Extreme Networks during the 4th quarter valued at $82,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Extreme Networks by 1,635.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,709 shares during the period. Gladius Capital Management LP bought a new position in shares of Extreme Networks in the 2nd quarter worth $90,000. Finally, Grizzlyrock Capital LLC purchased a new stake in shares of Extreme Networks during the 4th quarter worth $176,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.32% of the stock is owned by insiders.

Extreme Networks Stock Down 1.7 %

Shares of EXTR stock opened at $14.77 on Wednesday. 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, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $25.51. The firm has a market capitalization of $1.92 billion, a PE ratio of -212.57, a P/E/G ratio of 3.46 and a beta of 1.77. The stock’s 50-day simple moving average is $14.42 and its 200-day simple moving average is $12.75.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data 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 net margin of 7.69% and a negative return on equity of 24.51%. The business had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. During the same period last year, the company earned $0.24 earnings per share. The firm’s revenue was down 29.5% on a year-over-year basis. Equities analysts expect that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EXTR shares. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum raised their price objective on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

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.