473,878 Shares in Extreme Networks, Inc. (EXTR) Purchased by Nicholas Investment Partners LP
Nicholas Investment Partners LP bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 473,878 shares of the technology company’s stock, valued at approximately $4,367,000. Nicholas Investment Partners LP owned 0.43% of Extreme Networks at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Extreme Networks by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 7,210,885 shares of the technology company’s stock worth $54,154,000 after acquiring an additional 331,478 shares during the period. JPMorgan Chase & Co. raised its stake in Extreme Networks by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock worth $30,757,000 after acquiring an additional 466,851 shares during the period. RK Capital Management LLC raised its stake in Extreme Networks by 164.7% during the 1st quarter. RK Capital Management LLC now owns 3,608,869 shares of the technology company’s stock worth $27,103,000 after acquiring an additional 2,245,634 shares during the period. Dimensional Fund Advisors LP raised its stake in Extreme Networks by 30.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock worth $19,897,000 after acquiring an additional 618,989 shares during the period. Finally, State Street Corp raised its stake in Extreme Networks by 15.6% during the 1st quarter. State Street Corp now owns 2,204,562 shares of the technology company’s stock worth $16,558,000 after acquiring an additional 297,948 shares during the period. Institutional investors own 81.83% of the company’s stock.
In other Extreme Networks news, Director Kathleen M. Holmgren bought 5,000 shares of Extreme Networks stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $11.49 per share, with a total value of $57,450.00. Following the purchase, the director now directly owns 36,662 shares in the company, valued at approximately $421,246.38. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward Meyercord sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total value of $1,052,000.00. Following the transaction, the insider now directly owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.
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Extreme Networks, Inc. (NASDAQ:EXTR) remained flat at $11.70 during midday trading on Tuesday. 382,562 shares of the company traded hands. The stock has a 50 day moving average of $10.40 and a 200 day moving average of $8.98. Extreme Networks, Inc. has a 52 week low of $4.02 and a 52 week high of $11.90. The firm’s market cap is $1.29 billion.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Extreme Networks had a positive return on equity of 41.17% and a negative net margin of 1.42%. The company had revenue of $178.70 million during the quarter, compared to analysts’ expectations of $171.96 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. Analysts expect that Extreme Networks, Inc. will post $0.70 EPS for the current year.
A number of equities research analysts have commented on EXTR shares. Needham & Company LLC restated a “buy” rating and set a $12.50 target price (up previously from $9.50) on shares of Extreme Networks in a research note on Friday, June 2nd. BidaskClub cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.67.
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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