Pacer Advisors Inc. Increases Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Pacer Advisors Inc. raised its holdings in Extreme Networks, Inc. (NASDAQ:EXTRFree Report) by 167,176.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,409,102 shares of the technology company’s stock after purchasing an additional 3,407,064 shares during the period. Pacer Advisors Inc. owned 2.63% of Extreme Networks worth $60,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EXTR. Capital Research Global Investors lifted its stake in shares of Extreme Networks by 24.0% during 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 buying an additional 2,141,000 shares during the period. Vanguard Group Inc. increased its position in Extreme Networks by 17.0% during the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after purchasing an additional 1,877,727 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Extreme Networks during the third quarter worth approximately $38,999,000. Fred Alger Management LLC acquired a new position in Extreme Networks during the third quarter worth approximately $33,920,000. Finally, Loomis Sayles & Co. L P acquired a new position in Extreme Networks during the third quarter worth approximately $31,284,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of Extreme Networks stock opened at $11.65 on Monday. The firm has a fifty day simple moving average of $13.23 and a 200-day simple moving average of $17.41. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. Extreme Networks, Inc. has a 1-year low of $11.12 and a 1-year high of $32.73. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 4.15 and a beta of 1.91.

Extreme Networks (NASDAQ:EXTRGet Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. On average, sell-side analysts expect that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Insider Activity at Extreme Networks

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group lowered shares of Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. StockNews.com downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. B. Riley dropped their price target on shares of Extreme Networks from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Needham & Company LLC decreased their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. Finally, TheStreet lowered shares of Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.36.

Read Our Latest Report on EXTR

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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