Allianz Asset Management GmbH increased its position in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 811.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 933,210 shares of the technology company’s stock after acquiring an additional 830,833 shares during the period. Allianz Asset Management GmbH owned about 0.81% of Extreme Networks worth $11,684,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of EXTR. SG Americas Securities LLC purchased a new position in Extreme Networks during the 3rd quarter worth approximately $116,000. Suntrust Banks Inc. acquired a new position in Extreme Networks during the fourth quarter worth $128,000. Sei Investments Co. acquired a new position in Extreme Networks during the third quarter worth $161,000. Atria Investments LLC acquired a new position in Extreme Networks during the fourth quarter worth $165,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Extreme Networks by 74.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,327 shares of the technology company’s stock worth $230,000 after purchasing an additional 8,219 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on EXTR shares. Needham & Company LLC lifted their price objective on Extreme Networks from $14.85 to $15.50 and gave the company a “buy” rating in a research report on Wednesday, February 7th. DA Davidson boosted their price target on Extreme Networks from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Cowen restated a “buy” rating and set a $18.00 price objective on shares of Extreme Networks in a research note on Wednesday, February 7th. BidaskClub cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 16th. Finally, Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.25.
Shares of Extreme Networks stock opened at $12.35 on Monday. Extreme Networks, Inc has a 52-week low of $6.29 and a 52-week high of $15.55. The company has a market capitalization of $1,461.59, a price-to-earnings ratio of -70.44, a PEG ratio of 1.43 and a beta of 1.54. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.89 and a current ratio of 1.13.
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, beating the Zacks’ consensus estimate of $0.13 by $0.01. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The company had revenue of $231.12 million during the quarter, compared to analyst estimates of $241.49 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 47.8% on a year-over-year basis. sell-side analysts forecast that Extreme Networks, Inc will post 0.52 earnings per share for the current fiscal year.
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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