Intech Investment Management LLC Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Intech Investment Management LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the second quarter, HoldingsChannel reports. The fund bought 59,348 shares of the technology company’s stock, valued at approximately $798,000.

Several other large investors have also recently bought and sold shares of EXTR. Acadian Asset Management LLC acquired a new position in shares of Extreme Networks during the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its holdings in Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,709 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Extreme Networks in the fourth quarter valued at approximately $82,000. Gladius Capital Management LP acquired a new stake in Extreme Networks during the second quarter worth approximately $90,000. Finally, Quest Partners LLC purchased a new stake in shares of Extreme Networks during the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 0.3 %

Shares of Extreme Networks stock opened at $14.98 on Thursday. The company has a market cap of $1.95 billion, a P/E ratio of -214.00, a PEG ratio of 3.46 and a beta of 1.77. The firm has a fifty day moving average of $14.34 and a two-hundred day moving average of $12.67. 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 one year low of $10.49 and a one year high of $25.51.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. During the same quarter in the previous year, the business earned $0.24 EPS. Extreme Networks’s revenue for the quarter was down 29.5% on a year-over-year basis. On average, analysts forecast that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Craig Hallum increased their target price on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.32% of the company’s stock.

Extreme Networks 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.