Two Sigma Advisers LP Decreases Position in Extreme Networks, Inc (NASDAQ:EXTR)

Two Sigma Advisers LP reduced its stake in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 593,214 shares of the technology company’s stock after selling 255,300 shares during the quarter. Two Sigma Advisers LP owned 0.49% of Extreme Networks worth $1,833,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in EXTR. Thrivent Financial for Lutherans grew its holdings in Extreme Networks by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 101,884 shares of the technology company’s stock valued at $315,000 after purchasing an additional 5,086 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Extreme Networks by 22.1% during the first quarter. Wells Fargo & Company MN now owns 289,855 shares of the technology company’s stock valued at $895,000 after acquiring an additional 52,476 shares in the last quarter. Teton Advisors Inc. increased its position in shares of Extreme Networks by 3.6% during the first quarter. Teton Advisors Inc. now owns 477,700 shares of the technology company’s stock worth $1,476,000 after acquiring an additional 16,700 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Extreme Networks by 4.7% in the first quarter. Geode Capital Management LLC now owns 1,713,646 shares of the technology company’s stock worth $5,295,000 after acquiring an additional 77,591 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Extreme Networks by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,164 shares of the technology company’s stock valued at $189,000 after purchasing an additional 19,950 shares during the last quarter. 79.13% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director John C. Shoemaker bought 50,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $5.11 per share, for a total transaction of $255,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Kennedy purchased 27,900 shares of Extreme Networks stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $3.57 per share, with a total value of $99,603.00. Following the acquisition, the director now owns 405,866 shares of the company’s stock, valued at approximately $1,448,941.62. The disclosure for this purchase can be found here. Insiders have bought 210,000 shares of company stock valued at $892,934 over the last ninety days. Corporate insiders own 2.62% of the company’s stock.

EXTR stock opened at $4.30 on Wednesday. The firm has a market cap of $517.50 million, a price-to-earnings ratio of -4.22 and a beta of 1.64. Extreme Networks, Inc has a 1-year low of $1.43 and a 1-year high of $8.50. The firm has a fifty day moving average price of $3.90 and a two-hundred day moving average price of $4.87. The company has a debt-to-equity ratio of 27.66, a current ratio of 1.06 and a quick ratio of 0.88.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Monday, May 11th. The technology company reported ($0.14) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). The business had revenue of $200.50 million during the quarter, compared to analyst estimates of $209.95 million. Extreme Networks had a negative net margin of 12.46% and a negative return on equity of 25.79%. The company’s quarterly revenue was down 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. As a group, analysts expect that Extreme Networks, Inc will post -0.28 EPS for the current fiscal year.

Several equities analysts have recently commented on EXTR shares. TheStreet cut Extreme Networks from a “c-” rating to a “d+” rating in a research note on Tuesday, March 3rd. Craig Hallum reiterated a “buy” rating and set a $6.00 price objective on shares of Extreme Networks in a research note on Sunday, June 7th. Lake Street Capital boosted their target price on shares of Extreme Networks from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Monday, June 15th. Finally, JMP Securities decreased their price target on Extreme Networks from $9.00 to $6.00 and set a “market outperform” rating for the company in a research note on Thursday, April 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $5.50.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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Institutional Ownership by Quarter for Extreme Networks (NASDAQ:EXTR)

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