Ameriprise Financial Inc. reduced its stake in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,610,287 shares of the technology company’s stock after selling 160,692 shares during the quarter. Ameriprise Financial Inc. owned about 2.31% of Extreme Networks worth $31,037,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Extreme Networks during the third quarter worth approximately $116,000. Cambridge Investment Research Advisors Inc. bought a new stake in Extreme Networks during the third quarter worth approximately $255,000. Bank of New York Mellon Corp grew its stake in shares of Extreme Networks by 12.7% during the third quarter. Bank of New York Mellon Corp now owns 1,067,618 shares of the technology company’s stock valued at $12,694,000 after buying an additional 120,604 shares during the last quarter. Advisor Group Inc. bought a new position in shares of Extreme Networks during the third quarter valued at approximately $279,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Extreme Networks during the third quarter valued at approximately $827,000. 80.95% of the stock is currently owned by institutional investors.
In related news, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total value of $138,100.00. Following the transaction, the director now owns 99,523 shares of the company’s stock, valued at $1,374,412.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Carinalli sold 20,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.91, for a total value of $258,200.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
EXTR has been the topic of a number of analyst reports. ValuEngine raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Extreme Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Craig Hallum reaffirmed a “buy” rating and set a $17.00 target price (up previously from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th. Finally, Needham & Company LLC upped their target price on Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Extreme Networks has a consensus rating of “Buy” and an average price target of $13.25.
Extreme Networks, Inc (EXTR) opened at $12.73 on Tuesday. The company has a market capitalization of $1,464.25, a P/E ratio of 30.02, a PEG ratio of 1.26 and a beta of 1.14. Extreme Networks, Inc has a 52 week low of $4.28 and a 52 week high of $14.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31.
Extreme Networks (NASDAQ:EXTR) last released its earnings results on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $211.72 million for the quarter, compared to analysts’ expectations of $203.86 million. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The company’s quarterly revenue was up 72.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. sell-side analysts forecast that Extreme Networks, Inc will post 0.6 EPS for the current year.
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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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