Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,433 shares of the technology company’s stock after purchasing an additional 1,749 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Extreme Networks were worth $867,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after buying an additional 2,191,181 shares in the last quarter. Rubric Capital Management LP increased its stake in Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after purchasing an additional 1,804,744 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Extreme Networks during the second quarter worth approximately $25,409,000. Congress Asset Management Co. MA lifted its position in shares of Extreme Networks by 11.4% during 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 buying an additional 141,015 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Extreme Networks by 373.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after buying an additional 841,395 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on EXTR. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum raised their price target 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.90.

Insiders Place Their Bets

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 stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is currently owned by insiders.

Extreme Networks Trading Down 0.1 %

NASDAQ:EXTR opened at $15.35 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05. The stock’s 50 day simple moving average is $14.65 and its 200-day simple moving average is $12.96. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $25.51. The firm has a market cap of $1.99 billion, a P/E ratio of -219.29, a PEG ratio of 3.56 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last released 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 analyst estimates of $253.21 million. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue was down 29.5% on a year-over-year basis. Equities 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.