Suntrust Banks Inc. acquired a new position in shares of Extreme Networks, Inc (NASDAQ:EXTR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,326 shares of the technology company’s stock, valued at approximately $128,000.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its position in Extreme Networks by 3.1% during the 4th quarter. BlackRock Inc. now owns 7,530,223 shares of the technology company’s stock worth $94,278,000 after buying an additional 224,820 shares during the period. State Street Corp increased its position in Extreme Networks by 4.7% during the 2nd quarter. State Street Corp now owns 2,307,153 shares of the technology company’s stock worth $21,273,000 after buying an additional 102,591 shares during the period. Copper Rock Capital Partners LLC bought a new position in Extreme Networks during the 4th quarter worth $24,503,000. Bank of New York Mellon Corp increased its position in Extreme Networks by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,153,703 shares of the technology company’s stock worth $14,443,000 after buying an additional 86,085 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Extreme Networks by 150.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 960,629 shares of the technology company’s stock worth $11,422,000 after buying an additional 576,529 shares during the period. Hedge funds and other institutional investors own 79.57% of the company’s stock.
Several research analysts have weighed in on EXTR shares. BidaskClub cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 16th. ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. JMP Securities started coverage on Extreme Networks in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Cowen started coverage on Extreme Networks in a research report on Wednesday, December 20th. They set an “outperform” rating and a $16.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $16.08.
Extreme Networks (NASDAQ:EXTR) last released its earnings results on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $231.12 million for the quarter, compared to analyst estimates of $241.49 million. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. Extreme Networks’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. research analysts anticipate that Extreme Networks, Inc will post 0.52 earnings per share for the current year.
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Extreme Networks Company Profile
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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