Bank of New York Mellon Corp boosted its position in Extreme Networks Inc. (NASDAQ:EXTR) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,796 shares of the company’s stock after buying an additional 28,429 shares during the period. Bank of New York Mellon Corp owned approximately 0.40% of Extreme Networks worth $1,427,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in EXTR. Strs Ohio increased its position in Extreme Networks by 8.4% in the second quarter. Strs Ohio now owns 183,800 shares of the company’s stock worth $623,000 after buying an additional 14,200 shares during the period. Springowl Associates LLC increased its position in Extreme Networks by 11.6% in the first quarter. Springowl Associates LLC now owns 345,300 shares of the company’s stock worth $1,073,000 after buying an additional 36,000 shares during the period. Menta Capital LLC increased its position in Extreme Networks by 8.3% in the first quarter. Menta Capital LLC now owns 348,824 shares of the company’s stock worth $1,085,000 after buying an additional 26,780 shares during the period. Boothbay Fund Management LLC increased its position in Extreme Networks by 26.3% in the first quarter. Boothbay Fund Management LLC now owns 366,697 shares of the company’s stock worth $1,140,000 after buying an additional 76,422 shares during the period. Finally, Barclays PLC increased its position in Extreme Networks by 54.0% in the first quarter. Barclays PLC now owns 536,353 shares of the company’s stock worth $1,609,000 after buying an additional 188,153 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Extreme Networks Inc. (NASDAQ:EXTR) traded down 3.23% during midday trading on Tuesday, reaching $4.50. The company’s stock had a trading volume of 120,201 shares. The stock’s market cap is $478.75 million. Extreme Networks Inc. has a one year low of $2.32 and a one year high of $4.71. The firm has a 50-day moving average of $4.21 and a 200-day moving average of $3.71.
Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. The business earned $140 million during the quarter, compared to the consensus estimate of $141.89 million. Extreme Networks had a positive return on equity of 15.59% and a negative net margin of 6.03%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. On average, analysts forecast that Extreme Networks Inc. will post $0.34 EPS for the current year.
A number of equities analysts have weighed in on the company. Needham & Company LLC upped their price target on Extreme Networks from $3.75 to $4.30 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Wunderlich increased their price objective on Extreme Networks from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Buckingham Research increased their price objective on Extreme Networks from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, September 15th. Finally, DA Davidson raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $5.04.
In other news, Director John H. Kispert sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $3.80, for a total transaction of $95,000.00. Following the completion of the sale, the director now owns 180,748 shares in the company, valued at $686,842.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John H. Kispert sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $4.00, for a total value of $60,000.00. Following the sale, the director now owns 170,748 shares of the company’s stock, valued at approximately $682,992. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.
About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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