Creative Planning Boosts Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Creative Planning lifted its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 32.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,140 shares of the technology company’s stock after purchasing an additional 5,133 shares during the quarter. Creative Planning’s holdings in Extreme Networks were worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of EXTR. BNP Paribas Financial Markets raised its stake in shares of Extreme Networks by 101.8% in the first 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. SG Americas Securities LLC increased its position in Extreme Networks by 33.1% during the first quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company’s stock valued at $515,000 after acquiring an additional 11,077 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Extreme Networks by 3.1% during the first quarter. Illinois Municipal Retirement Fund now owns 77,836 shares of the technology company’s stock valued at $898,000 after acquiring an additional 2,375 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Extreme Networks during the first quarter valued at $651,000. Finally, Headlands Technologies LLC increased its position in Extreme Networks by 223.5% during the first quarter. Headlands Technologies LLC now owns 16,946 shares of the technology company’s stock valued at $196,000 after acquiring an additional 11,707 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Buying and Selling

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,175 shares of company stock worth $1,763,279. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $16.76 on Friday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -17.28, a price-to-earnings-growth ratio of 3.51 and a beta of 1.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The business has a 50-day moving average price of $14.95 and a 200-day moving average price of $13.50. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The firm had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. Extreme Networks’s quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on EXTR. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday. Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. B. Riley boosted their price target on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.00.

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.