Extreme Networks, Inc. (NASDAQ:EXTR) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 4.9% during the 2nd quarter, Holdings Channel reports. The firm owned 47,907 shares of the technology company’s stock after purchasing an additional 2,250 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Extreme Networks were worth $644,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Extreme Networks in the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after buying an additional 4,709 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks in the fourth quarter worth about $82,000. Gladius Capital Management LP purchased a new position in shares of Extreme Networks in the second quarter worth about $90,000. Finally, Narus Financial Partners LLC purchased a new position in shares of Extreme Networks in the first quarter worth about $130,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of EXTR stock opened at $15.10 on Friday. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. The firm’s 50-day moving average is $14.40 and its two-hundred day moving average is $12.70. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $25.51. The company has a market capitalization of $1.96 billion, a PE ratio of -215.71, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last issued its 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 firm had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. During the same period last year, the firm earned $0.24 earnings per share. Extreme Networks’s revenue for the quarter was down 29.5% on a year-over-year basis. Analysts predict that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.32% of the stock is owned by insiders.

Analysts Set New Price Targets

EXTR has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum raised their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

Extreme Networks Company 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.