GAMMA Investing LLC Has $30,000 Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

GAMMA Investing LLC increased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 109.5% in the third quarter, HoldingsChannel reports. The firm owned 1,980 shares of the technology company’s stock after acquiring an additional 1,035 shares during the period. GAMMA Investing LLC’s holdings in Extreme Networks were worth $30,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXTR. Mirador Capital Partners LP boosted its position in shares of Extreme Networks by 0.6% in the third quarter. Mirador Capital Partners LP now owns 365,324 shares of the technology company’s stock worth $5,491,000 after buying an additional 2,263 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Extreme Networks by 265.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after acquiring an additional 531,500 shares during the period. Clearbridge Investments LLC grew its stake in Extreme Networks by 42.9% during the 2nd quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock valued at $11,507,000 after acquiring an additional 256,765 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Extreme Networks by 61.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company’s stock valued at $9,270,000 after purchasing an additional 261,322 shares during the period. Finally, Clearline Capital LP lifted its position in shares of Extreme Networks by 252.4% in the second quarter. Clearline Capital LP now owns 613,360 shares of the technology company’s stock worth $8,250,000 after purchasing an additional 439,321 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

NASDAQ EXTR opened at $15.06 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. The stock has a market capitalization of $1.96 billion, a PE ratio of -215.14, a price-to-earnings-growth ratio of 3.56 and a beta of 1.76. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $22.25. The company has a 50 day moving average price of $14.85 and a two-hundred day moving average price of $13.07.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The business had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on EXTR. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,363,575.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by insiders.

Extreme Networks Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.