Extreme Networks, Inc. (NASDAQ:EXTR)’s share price reached a new 52-week high on Monday . The stock traded as high as $11.75 and last traded at $11.77, with a volume of 1,149,852 shares changing hands. The stock had previously closed at $11.27.
Several equities analysts recently weighed in on EXTR shares. Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Needham & Company LLC restated a “buy” rating and set a $12.50 price target (up previously from $9.50) on shares of Extreme Networks in a research report on Friday, June 2nd. BidaskClub lowered shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $9.10.
The firm has a 50-day moving average price of $10.10 and a 200 day moving average price of $8.79. The firm’s market capitalization is $1.29 billion.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The firm had revenue of $178.70 million for the quarter, compared to the consensus estimate of $171.96 million. Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 43.34%. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities research analysts expect that Extreme Networks, Inc. will post $0.70 EPS for the current fiscal year.
In other news, Director Kathleen M. Holmgren purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was acquired at an average cost of $11.49 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward Meyercord sold 100,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $10.52, for a total value of $1,052,000.00. Following the sale, the insider now owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Extreme Networks by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock valued at $74,138,000 after purchasing an additional 830,103 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Extreme Networks by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock valued at $30,757,000 after purchasing an additional 466,851 shares during the period. RK Capital Management LLC grew its stake in shares of 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 valued at $27,103,000 after purchasing an additional 2,245,634 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 valued at $19,897,000 after purchasing an additional 618,989 shares during the period. Finally, State Street Corp grew its stake in shares of Extreme Networks by 4.7% during the 2nd quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock valued at $21,273,000 after purchasing an additional 102,591 shares during the period. Institutional investors and hedge funds own 81.87% of the company’s stock.
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About Extreme Networks
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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