Navellier & Associates Inc. Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Navellier & Associates Inc. grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTRFree Report) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,614 shares of the technology company’s stock after purchasing an additional 1,732 shares during the quarter. Navellier & Associates Inc.’s holdings in Extreme Networks were worth $1,056,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in shares of 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 valued at $134,986,000 after purchasing an additional 2,141,000 shares during the period. Congress Asset Management Co. MA purchased a new stake in shares of Extreme Networks in the 3rd quarter worth $29,915,000. Driehaus Capital Management LLC lifted its holdings in shares of Extreme Networks by 389.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,394,204 shares of the technology company’s stock worth $36,319,000 after buying an additional 1,109,533 shares during the period. Vanguard Group Inc. grew its position in shares of Extreme Networks by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock worth $147,332,000 after buying an additional 821,201 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Extreme Networks by 4.2% during the first quarter. BlackRock Inc. now owns 18,666,486 shares of the technology company’s stock valued at $356,903,000 after buying an additional 751,645 shares during the period. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now owns 1,129,611 shares in the company, valued at $14,956,049.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.32% of the company’s stock.

Extreme Networks Stock Performance

Shares of EXTR opened at $12.59 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.74 and a current ratio of 1.02. The stock has a 50-day moving average of $16.33 and a two-hundred day moving average of $20.79. The stock has a market cap of $1.62 billion, a P/E ratio of 20.98, a P/E/G ratio of 4.48 and a beta of 1.95. Extreme Networks, Inc. has a one year low of $12.11 and a one year high of $32.73.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EXTR shares. UBS Group lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Needham & Company LLC cut their price target on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating on the stock in a report on Thursday, February 1st. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Rosenblatt Securities cut Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $15.00 in a research note on Thursday, February 1st. Finally, Oppenheimer lowered Extreme Networks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.36.

Check Out Our Latest Research Report on Extreme Networks

Extreme Networks Company Profile

(Free Report)

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

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