Aquila Investment Management LLC Acquires Shares of 64,000 Extreme Networks, Inc. (NASDAQ:EXTR)

Aquila Investment Management LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 64,000 shares of the technology company's stock, valued at approximately $962,000.

Several other institutional investors also recently modified their holdings of EXTR. Vanguard Group Inc. grew its position in shares of Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company's stock valued at $175,191,000 after purchasing an additional 2,191,181 shares during the period. Rubric Capital Management LP grew its position in shares of Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company's stock valued at $70,676,000 after purchasing an additional 1,804,744 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Extreme Networks in the 2nd quarter valued at approximately $25,409,000. Victory Capital Management Inc. grew its position in shares of Extreme Networks by 373.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company's stock valued at $14,348,000 after purchasing an additional 841,395 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Extreme Networks by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company's stock valued at $14,192,000 after purchasing an additional 3,572 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Stock Up 0.6 %

NASDAQ EXTR traded up $0.09 during trading on Wednesday, hitting $14.71. The stock had a trading volume of 609,995 shares, compared to its average volume of 1,874,603. The company has a market capitalization of $1.91 billion, a PE ratio of -208.86, a P/E/G ratio of 3.56 and a beta of 1.76. The company's 50-day moving average price is $14.89 and its two-hundred day moving average price is $13.15. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $21.19.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the prior year, the company earned $0.24 EPS. The company's revenue for the quarter was down 29.5% on a year-over-year basis. As a group, sell-side analysts forecast that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EXTR shares. Craig Hallum boosted their price objective on Extreme Networks from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.90.

About Extreme Networks

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.