Gallacher Capital Management LLC Acquires 3,031 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Gallacher Capital Management LLC boosted its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 20.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,590 shares of the technology company’s stock after purchasing an additional 3,031 shares during the quarter. Gallacher Capital Management LLC’s holdings in Extreme Networks were worth $203,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in Extreme Networks by 3.9% during the 4th quarter. Handelsbanken Fonder AB now owns 24,000 shares of the technology company’s stock valued at $423,000 after purchasing an additional 900 shares in the last quarter. Tucker Asset Management LLC purchased a new position in Extreme Networks in the 3rd quarter worth approximately $41,000. Allworth Financial LP lifted its position in Extreme Networks by 4,924.4% in the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock valued at $36,000 after acquiring an additional 2,019 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Extreme Networks by 66.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,227 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,481 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Extreme Networks by 12.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,336 shares of the technology company’s stock worth $500,000 after purchasing an additional 3,158 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXTR has been the topic of several recent analyst reports. Rosenblatt Securities raised Extreme Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $17.00 in a research report on Thursday, May 2nd. B. Riley lifted their price target on shares of Extreme Networks from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Craig Hallum raised shares of Extreme Networks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $14.00 in a report on Thursday, May 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research report on Monday, June 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Extreme Networks Trading Up 3.4 %

Shares of Extreme Networks stock traded up $0.47 on Friday, hitting $14.35. 832,057 shares of the company’s stock were exchanged, compared to its average volume of 2,212,313. The company has a current ratio of 0.96, a quick ratio of 0.61 and a debt-to-equity ratio of 2.78. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $32.73. The company has a 50-day simple moving average of $11.94 and a 200-day simple moving average of $12.80.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The company had revenue of $211.04 million for the quarter, compared to analysts’ expectations of $207.80 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. As a group, research analysts forecast that Extreme Networks, Inc. will post 0.08 earnings per share for the current fiscal year.

Extreme Networks Company 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.