Gladius Capital Management LP Purchases Shares of 6,666 Extreme Networks, Inc. (NASDAQ:EXTR)

Gladius Capital Management LP acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, Holdings Channel reports. The fund acquired 6,666 shares of the technology company’s stock, valued at approximately $90,000.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of Extreme Networks by 101.8% during the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after purchasing an additional 220,763 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Extreme Networks during the fourth quarter worth $1,613,000. Gallacher Capital Management LLC acquired a new position in Extreme Networks in the fourth quarter valued at $257,000. Seven Eight Capital LP boosted its holdings in Extreme Networks by 724.8% in the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after acquiring an additional 170,395 shares during the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in Extreme Networks by 68.1% in the first quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock valued at $2,850,000 after acquiring an additional 100,075 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EXTR shares. B. Riley lifted their target price on Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Craig Hallum lifted their target price on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Finally, Rosenblatt Securities upgraded Extreme Networks from a “neutral” rating to a “buy” rating and lifted their target price for the company from $15.00 to $17.00 in a report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

Extreme Networks Stock Down 2.3 %

Shares of EXTR traded down $0.34 during midday trading on Friday, reaching $14.52. 1,786,849 shares of the company were exchanged, compared to its average volume of 2,113,453. The stock has a 50-day moving average price of $13.25 and a 200-day moving average price of $12.18. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -207.43, a P/E/G ratio of 2.24 and a beta of 1.79. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $29.78. 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 (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The company’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. Research analysts expect that Extreme Networks, Inc. will post 0.08 earnings per share for the current year.

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.