64,000 Shares in Extreme Networks, Inc. (NASDAQ:EXTR) Purchased by Aquila Investment Management LLC

Aquila Investment Management LLC acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 64,000 shares of the technology company’s stock, valued at approximately $962,000.

Several other institutional investors and hedge funds have also made changes to their positions in EXTR. GAMMA Investing LLC increased its holdings in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after buying an additional 1,035 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Extreme Networks during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Extreme Networks in the 2nd quarter valued at about $90,000. Finally, Hennessy Advisors Inc. purchased a new stake in Extreme Networks in the 2nd quarter valued at about $148,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.32% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $14.62 on Wednesday. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $21.19. The company has a 50-day simple moving average of $14.89 and a 200-day simple moving average of $13.15. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -208.86, a PEG ratio of 3.56 and a beta of 1.76.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EXTR shares. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum lifted their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 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.