Renaissance Technologies LLC Boosts Stake in Extreme Networks, Inc. $EXTR

Renaissance Technologies LLC increased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 32.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,076,080 shares of the technology company’s stock after purchasing an additional 510,215 shares during the quarter. Renaissance Technologies LLC owned 1.59% of Extreme Networks worth $31,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in Extreme Networks in the 3rd quarter worth about $31,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,484 shares during the last quarter. Quarry LP boosted its holdings in shares of Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after acquiring an additional 1,118 shares during the last quarter. CWM LLC grew its stake in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after acquiring an additional 1,084 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,861 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several research reports. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. UBS Group set a $28.00 target price on shares of Extreme Networks in a report on Thursday, April 30th. Rosenblatt Securities lifted their target price on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Wall Street Zen lowered shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Extreme Networks Trading Up 0.1%

Extreme Networks stock opened at $29.99 on Wednesday. The business has a 50-day simple moving average of $29.86 and a two-hundred day simple moving average of $21.22. The company has a market cap of $3.92 billion, a P/E ratio of 249.92, a P/E/G ratio of 1.84 and a beta of 1.77. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. Analysts predict that Extreme Networks, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling at Extreme Networks

In other news, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the transaction, the insider owned 120,834 shares in the company, valued at $3,749,479.02. This trade represents a 19.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen M. Holmgren sold 19,521 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the sale, the director directly owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 592,182 shares of company stock valued at $15,423,978 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.