Extreme Networks, Inc. (NASDAQ:EXTR) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 129.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 373,268 shares of the technology company’s stock after acquiring an additional 210,300 shares during the period. Federated Hermes Inc. owned 0.29% of Extreme Networks worth $6,584,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in Extreme Networks by 167,176.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Extreme Networks by 17.0% during the 3rd 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 shares of Extreme Networks during the 3rd quarter worth approximately $38,999,000. Fred Alger Management LLC acquired a new position in shares of Extreme Networks during the 3rd quarter worth approximately $33,920,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Extreme Networks during the 3rd quarter worth approximately $31,284,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Trading Up 1.6 %

EXTR stock opened at $11.33 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.95 and a beta of 1.90. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The business has a fifty day simple moving average of $11.61 and a 200-day simple moving average of $15.32. Extreme Networks, Inc. has a 52 week low of $10.57 and a 52 week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The firm had revenue of $296.38 million for the quarter, compared to analyst estimates of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 28,443 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.24, for a total transaction of $376,585.32. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. Insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EXTR shares. TheStreet downgraded Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. UBS Group downgraded Extreme Networks from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $14.00 in a research report on Thursday, February 1st. B. Riley upgraded Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Monday, April 15th. Needham & Company LLC cut their price target on Extreme Networks from $23.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, February 1st. Finally, StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Hold” and an average target price of $22.36.

Extreme Networks Profile

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.