JPMorgan Chase & Co. decreased its position in Extreme Networks, Inc (NASDAQ:EXTR) by 20.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,737,556 shares of the technology company’s stock after selling 699,994 shares during the period. JPMorgan Chase & Co. owned 2.42% of Extreme Networks worth $32,413,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Paradigm Asset Management Co. LLC purchased a new stake in Extreme Networks in the 2nd quarter valued at about $141,000. Goldman Sachs Group Inc. increased its stake in Extreme Networks by 474.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock valued at $14,695,000 after buying an additional 1,316,604 shares during the last quarter. California Public Employees Retirement System increased its stake in Extreme Networks by 3.0% in the 2nd quarter. California Public Employees Retirement System now owns 331,300 shares of the technology company’s stock valued at $3,055,000 after buying an additional 9,800 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Extreme Networks by 31.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,569 shares of the technology company’s stock valued at $568,000 after buying an additional 14,598 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Extreme Networks by 20.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,260 shares of the technology company’s stock valued at $602,000 after buying an additional 10,962 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.
EXTR has been the subject of several analyst reports. ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Extreme Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Craig Hallum reissued a “buy” rating and set a $17.00 target price (up from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Finally, Needham & Company LLC increased their target price on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Extreme Networks has an average rating of “Buy” and a consensus price target of $13.25.
In related news, Director Charles Carinalli sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $12.91, for a total value of $258,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the transaction, the director now directly owns 99,523 shares of the company’s stock, valued at $1,374,412.63. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
Extreme Networks, Inc (EXTR) opened at $12.42 on Wednesday. Extreme Networks, Inc has a 52-week low of $4.75 and a 52-week high of $14.34. The firm has a market cap of $1,424.56, a P/E ratio of 29.21, a PEG ratio of 1.22 and a beta of 1.14. 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The firm had revenue of $211.72 million during the quarter, compared to the consensus estimate of $203.86 million. During the same period in the prior year, the firm earned $0.07 EPS. The company’s revenue was up 72.5% compared to the same quarter last year. sell-side analysts anticipate that Extreme Networks, Inc will post 0.6 earnings per share for the current fiscal 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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