Extreme Networks, Inc. (NASDAQ:EXTR) Stake Lowered by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 40.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,910 shares of the technology company’s stock after selling 30,996 shares during the period. AQR Capital Management LLC’s holdings in Extreme Networks were worth $617,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EXTR. Acadian Asset Management LLC bought a new stake in Extreme Networks in the first quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its stake 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 acquiring an additional 4,709 shares during the last quarter. Gladius Capital Management LP bought a new position in Extreme Networks in the second quarter valued at approximately $90,000. Narus Financial Partners LLC bought a new position in Extreme Networks in the first quarter valued at approximately $130,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Extreme Networks during the second quarter worth $148,000. Institutional investors own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of recent analyst reports. Craig Hallum lifted their price target 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. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extreme Networks has a consensus rating of “Moderate Buy” and an average price target of $15.90.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $15.35 on Monday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -219.29, a PEG ratio of 3.56 and a beta of 1.76. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90. The company has a 50-day simple moving average of $14.65 and a 200 day simple moving average of $12.96. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $25.51.

Extreme Networks (NASDAQ:EXTR) last announced 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). The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The business’s quarterly revenue was down 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. On average, sell-side analysts predict that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.32% of the company’s stock.

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.