Fox Run Management L.L.C. acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,734 shares of the technology company’s stock, valued at approximately $623,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXTR. Capital Research Global Investors grew its position in Extreme Networks by 24.0% in the first quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after acquiring an additional 2,141,000 shares in the last quarter. Congress Asset Management Co. MA purchased a new position in Extreme Networks in the third quarter worth about $29,915,000. Driehaus Capital Management LLC grew its position in Extreme Networks by 389.8% in the second quarter. Driehaus Capital Management LLC now owns 1,394,204 shares of the technology company’s stock worth $36,319,000 after acquiring an additional 1,109,533 shares in the last quarter. Vanguard Group Inc. grew its position in Extreme Networks by 7.3% in the first quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock worth $147,332,000 after acquiring an additional 821,201 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Extreme Networks by 4.2% in the first quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company’s stock worth $356,903,000 after purchasing an additional 751,645 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.
Extreme Networks Stock Performance
Shares of EXTR stock opened at $16.64 on Wednesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.13 and a beta of 1.99. The company’s 50 day moving average is $17.00 and its 200 day moving average is $21.73. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 1.71. Extreme Networks, Inc. has a 52-week low of $14.67 and a 52-week high of $32.73.
Insider Activity at Extreme Networks
In other Extreme Networks news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction on Friday, December 1st. The shares were sold at an average price of $16.32, for a total value of $464,189.76. Following the transaction, the chief executive officer now directly owns 1,129,611 shares of the company’s stock, valued at $18,435,251.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.32% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
EXTR has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Extreme Networks in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Oppenheimer downgraded shares of Extreme Networks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Rosenblatt Securities decreased their price objective on shares of Extreme Networks from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Lake Street Capital downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Extreme Networks in a research note on Thursday, December 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.71.
Extreme Networks 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.
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