Assenagon Asset Management S.A. increased its position in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 285.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 692,828 shares of the technology company’s stock after purchasing an additional 513,187 shares during the period. Assenagon Asset Management S.A. owned approximately 0.59% of Extreme Networks worth $5,189,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Menta Capital LLC purchased a new stake in Extreme Networks in the 4th quarter valued at about $180,000. Virtu Financial LLC purchased a new stake in Extreme Networks in the 4th quarter valued at about $157,000. Boston Advisors LLC purchased a new stake in Extreme Networks in the 1st quarter valued at about $2,092,000. Legal & General Group Plc boosted its position in Extreme Networks by 10.6% in the 3rd quarter. Legal & General Group Plc now owns 253,034 shares of the technology company’s stock valued at $1,391,000 after buying an additional 24,208 shares during the period. Finally, Man Group plc boosted its position in Extreme Networks by 479.0% in the 3rd quarter. Man Group plc now owns 85,697 shares of the technology company’s stock valued at $470,000 after buying an additional 70,897 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on EXTR shares. BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Friday, January 25th. TheStreet upgraded shares of Extreme Networks from a “d+” rating to a “c” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research lowered shares of Extreme Networks from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.00.
Shares of NASDAQ EXTR traded down $0.12 during trading hours on Wednesday, hitting $6.02. 420,422 shares of the stock were exchanged, compared to its average volume of 1,469,085. The company has a quick ratio of 1.10, a current ratio of 1.29 and a debt-to-equity ratio of 1.37. The firm has a market cap of $714.91 million, a PE ratio of 13.68, a price-to-earnings-growth ratio of 5.10 and a beta of 1.24. Extreme Networks, Inc has a 12 month low of $4.81 and a 12 month high of $9.41.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Extreme Networks had a negative net margin of 1.41% and a positive return on equity of 26.15%. The business had revenue of $250.90 million for the quarter, compared to analyst estimates of $253.49 million. During the same quarter in the prior year, the business posted $0.16 EPS. Extreme Networks’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Extreme Networks, Inc will post 0.09 earnings per share for the current fiscal year.
In other Extreme Networks news, insider Edward Meyercord sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.49, for a total transaction of $112,350.00. Following the transaction, the insider now owns 547,692 shares in the company, valued at approximately $4,102,213.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.45% of the company’s stock.
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Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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