Northern Trust Corp increased its position in Extreme Networks, Inc (NASDAQ:EXTR) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,433,605 shares of the technology company’s stock after buying an additional 56,044 shares during the period. Northern Trust Corp owned 1.24% of Extreme Networks worth $15,869,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Meadow Creek Investment Management LLC acquired a new stake in shares of Extreme Networks in the 1st quarter valued at about $168,000. Riverhead Capital Management LLC acquired a new stake in shares of Extreme Networks in the 1st quarter valued at about $106,000. Stevens Capital Management LP acquired a new stake in shares of Extreme Networks in the 1st quarter valued at about $207,000. Schwab Charles Investment Management Inc. grew its stake in shares of Extreme Networks by 12.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 816,996 shares of the technology company’s stock valued at $9,045,000 after buying an additional 93,066 shares during the period. Finally, Chicago Equity Partners LLC grew its stake in shares of Extreme Networks by 2.9% in the 1st quarter. Chicago Equity Partners LLC now owns 209,445 shares of the technology company’s stock valued at $2,319,000 after buying an additional 5,880 shares during the period. Institutional investors own 86.98% of the company’s stock.
In other news, Director Edward H. Kennedy bought 50,000 shares of the company’s stock in a transaction on Friday, May 18th. The shares were purchased at an average price of $9.03 per share, with a total value of $451,500.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Raj Khanna bought 10,000 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were purchased at an average cost of $8.96 per share, for a total transaction of $89,600.00. Following the transaction, the director now owns 109,523 shares in the company, valued at $981,326.08. The disclosure for this purchase can be found here. Insiders have acquired a total of 150,000 shares of company stock valued at $1,308,500 in the last quarter. Company insiders own 1.90% of the company’s stock.
Extreme Networks opened at $7.96 on Friday, MarketBeat Ratings reports. The stock has a market cap of $914.39 million, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.11 and a beta of 1.54. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.09 and a quick ratio of 0.88. Extreme Networks, Inc has a 52-week low of $7.63 and a 52-week high of $15.55.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Tuesday, May 8th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). The company had revenue of $262.00 million for the quarter, compared to analyst estimates of $268.32 million. Extreme Networks had a negative net margin of 3.28% and a positive return on equity of 43.61%. Extreme Networks’s revenue for the quarter was up 75.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. analysts forecast that Extreme Networks, Inc will post 0.42 EPS for the current year.
EXTR has been the subject of a number of analyst reports. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, May 9th. ValuEngine downgraded Extreme Networks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 9th. Finally, BidaskClub downgraded Extreme Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Extreme Networks has an average rating of “Buy” and an average target price of $16.08.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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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