Cornerstone Financial Partners LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,075 shares of the technology company’s stock, valued at approximately $148,000.
Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Extreme Networks by 4.8% in the first quarter. Vanguard Group Inc. now owns 7,210,885 shares of the technology company’s stock worth $54,154,000 after buying an additional 331,478 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Extreme Networks by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 4,095,453 shares of the technology company’s stock worth $30,757,000 after buying an additional 466,851 shares during the period. RK Capital Management LLC boosted its stake in shares of Extreme Networks by 164.7% in the first quarter. RK Capital Management LLC now owns 3,608,869 shares of the technology company’s stock worth $27,103,000 after buying an additional 2,245,634 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Extreme Networks by 30.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock worth $19,897,000 after buying an additional 618,989 shares during the period. Finally, State Street Corp boosted its stake in shares of Extreme Networks by 15.6% in the first quarter. State Street Corp now owns 2,204,562 shares of the technology company’s stock worth $16,558,000 after buying an additional 297,948 shares during the period. Institutional investors and hedge funds own 82.60% of the company’s stock.
Shares of Extreme Networks, Inc. (EXTR) traded down 0.90% during midday trading on Wednesday, hitting $8.80. 643,576 shares of the company were exchanged. The company has a 50-day moving average price of $9.55 and a 200-day moving average price of $7.86. The stock’s market capitalization is $969.46 million. Extreme Networks, Inc. has a 52-week low of $3.70 and a 52-week high of $11.03.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $148.70 million during the quarter, compared to the consensus estimate of $155.89 million. Extreme Networks had a positive return on equity of 33.40% and a negative net margin of 4.12%. The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. On average, analysts forecast that Extreme Networks, Inc. will post $0.43 EPS for the current year.
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A number of equities research analysts have recently commented on EXTR shares. Zacks Investment Research cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Needham & Company LLC reiterated a “buy” rating and issued a $12.50 target price (up from $9.50) on shares of Extreme Networks in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of Extreme Networks from a “hold” rating to a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.10.
In other news, insider Edward Meyercord sold 65,000 shares of Extreme Networks stock in a transaction on Monday, June 26th. The stock was sold at an average price of $10.10, for a total transaction of $656,500.00. Following the completion of the transaction, the insider now owns 563,034 shares of the company’s stock, valued at approximately $5,686,643.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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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