TIAA CREF Investment Management LLC Buys 232,247 Shares of Extreme Networks, Inc. (EXTR)
TIAA CREF Investment Management LLC increased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 25.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,134,083 shares of the technology company’s stock after purchasing an additional 232,247 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 1.03% of Extreme Networks worth $10,456,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. FNY Partners Fund LP bought a new position in Extreme Networks in the 1st quarter worth $112,000. Bank of Montreal Can raised its holdings in Extreme Networks by 3,689.4% in the 1st quarter. Bank of Montreal Can now owns 15,006 shares of the technology company’s stock worth $113,000 after purchasing an additional 14,610 shares during the period. Bank of America Corp DE raised its holdings in Extreme Networks by 29.0% in the 1st quarter. Bank of America Corp DE now owns 18,318 shares of the technology company’s stock worth $138,000 after purchasing an additional 4,118 shares during the period. Paradigm Asset Management Co. LLC bought a new position in Extreme Networks in the 2nd quarter worth $141,000. Finally, Cornerstone Financial Partners LLC bought a new position in Extreme Networks in the 2nd quarter worth $148,000. 79.71% of the stock is currently owned by institutional investors.
Extreme Networks, Inc. (EXTR) opened at 12.44 on Friday. The company’s market capitalization is $1.41 billion. Extreme Networks, Inc. has a one year low of $4.02 and a one year high of $13.20. The company has a 50-day moving average price of $11.46 and a 200-day moving average price of $9.44.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $178.70 million for the quarter, compared to analysts’ expectations of $171.96 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s revenue was up 28.0% compared to the same quarter last year. Analysts expect that Extreme Networks, Inc. will post $0.70 earnings per share for the current fiscal year.
In other news, insider Edward Meyercord sold 100,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the sale, the insider now directly owns 471,653 shares of the company’s stock, valued at approximately $4,961,789.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathleen M. Holmgren bought 5,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the purchase, the director now owns 36,662 shares in the company, valued at $421,246.38. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of equities analysts recently commented on EXTR shares. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Needham & Company LLC raised their target price on Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Extreme Networks currently has an average rating of “Buy” and a consensus target price of $11.67.
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Extreme Networks 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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