Dimensional Fund Advisors LP decreased its holdings in Extreme Networks, Inc (NASDAQ:EXTR) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,591,437 shares of the technology company’s stock after selling 53,588 shares during the period. Dimensional Fund Advisors LP owned approximately 2.28% of Extreme Networks worth $30,812,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in EXTR. SG Americas Securities LLC acquired a new stake in shares of Extreme Networks during the 3rd quarter worth approximately $116,000. PNC Financial Services Group Inc. acquired a new stake in shares of Extreme Networks during the 2nd quarter worth approximately $101,000. Howe & Rusling Inc. increased its holdings in shares of Extreme Networks by 2,623.5% during the 3rd quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock worth $135,000 after buying an additional 10,940 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Extreme Networks during the 2nd quarter worth approximately $116,000. Finally, Sei Investments Co. acquired a new stake in shares of Extreme Networks during the 3rd quarter worth approximately $161,000. Institutional investors own 82.58% of the company’s stock.
Extreme Networks, Inc (NASDAQ EXTR) opened at $12.79 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.09 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1,511.89, a P/E ratio of 639.50, a P/E/G ratio of 1.30 and a beta of 1.14. Extreme Networks, Inc has a 1 year low of $5.22 and a 1 year high of $14.34.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $211.72 million during the quarter, compared to analysts’ expectations of $203.86 million. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The firm’s quarterly revenue was up 72.5% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. analysts expect that Extreme Networks, Inc will post 0.6 earnings per share for the current fiscal year.
EXTR has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research downgraded shares of Extreme Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Cowen initiated coverage on shares of Extreme Networks in a report on Wednesday, December 20th. They set an “outperform” rating and a $16.00 price target for the company. JMP Securities initiated coverage on shares of Extreme Networks in a report on Wednesday, January 3rd. They set an “outperform” rating and a $16.00 price target for the company. Finally, Craig Hallum restated a “buy” rating and set a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $14.17.
In related news, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were 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 owns 99,523 shares of the company’s stock, valued at approximately $1,374,412.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $258,200.00. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
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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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