Sheets Smith Wealth Management purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 30,337 shares of the technology company’s stock, valued at approximately $280,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 4.8% in the first quarter. Vanguard Group Inc. now owns 7,210,885 shares of the technology company’s stock valued at $54,154,000 after buying an additional 331,478 shares during the last quarter. JPMorgan Chase & Co. raised its position in Extreme Networks by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock worth $30,757,000 after buying an additional 466,851 shares in the last quarter. RK Capital Management LLC raised its position in Extreme Networks by 164.7% in the first quarter. RK Capital Management LLC now owns 3,608,869 shares of the technology company’s stock worth $27,103,000 after buying an additional 2,245,634 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Extreme Networks by 30.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock worth $19,897,000 after buying an additional 618,989 shares in the last quarter. Finally, State Street Corp raised its position in Extreme Networks by 15.6% in the first quarter. State Street Corp now owns 2,204,562 shares of the technology company’s stock worth $16,558,000 after buying an additional 297,948 shares in the last quarter. Institutional investors own 80.44% of the company’s stock.
Extreme Networks, Inc. (NASDAQ:EXTR) traded up 1.23% during trading on Friday, hitting $10.68. 2,075,700 shares of the company’s stock were exchanged. The company’s market cap is $1.18 billion. The firm has a 50 day moving average price of $9.34 and a 200 day moving average price of $8.18. Extreme Networks, Inc. has a 52-week low of $3.75 and a 52-week high of $11.03.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Monday, August 14th. The technology company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $178.70 million during the quarter, compared to analyst estimates of $171.96 million. Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 43.34%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. On average, equities research analysts predict that Extreme Networks, Inc. will post $0.70 earnings per share for the current year.
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A number of research firms recently weighed in on EXTR. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday. BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Needham & Company LLC raised their price target on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $9.10.
In other news, insider Edward Meyercord sold 65,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $10.10, for a total transaction of $656,500.00. Following the sale, the insider now owns 563,034 shares of the company’s stock, valued at $5,686,643.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.91% of the stock is currently owned by corporate insiders.
Extreme Networks Company Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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