Kennedy Capital Management Inc. Grows Holdings in Extreme Networks, Inc (NASDAQ:EXTR)

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Kennedy Capital Management Inc. raised its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 284.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 768,756 shares of the technology company’s stock after buying an additional 568,756 shares during the period. Kennedy Capital Management Inc.’s holdings in Extreme Networks were worth $5,758,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Comerica Bank boosted its position in Extreme Networks by 1.6% in the 1st quarter. Comerica Bank now owns 115,743 shares of the technology company’s stock valued at $877,000 after buying an additional 1,789 shares during the period. Thrivent Financial for Lutherans boosted its position in Extreme Networks by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 83,447 shares of the technology company’s stock valued at $509,000 after buying an additional 1,835 shares during the period. Texas Permanent School Fund boosted its position in Extreme Networks by 2.4% in the 1st quarter. Texas Permanent School Fund now owns 79,278 shares of the technology company’s stock valued at $594,000 after buying an additional 1,840 shares during the period. Meeder Asset Management Inc. boosted its position in Extreme Networks by 438.4% in the 1st quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock valued at $26,000 after buying an additional 2,823 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Extreme Networks in the 4th quarter valued at about $25,000. 80.90% of the stock is owned by institutional investors.

Shares of EXTR opened at $5.93 on Tuesday. Extreme Networks, Inc has a fifty-two week low of $4.81 and a fifty-two week high of $9.35. The company has a market capitalization of $704.19 million, a PE ratio of 13.48 and a beta of 1.56. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.29 and a quick ratio of 1.10.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Extreme Networks had a negative net margin of 1.41% and a positive return on equity of 26.15%. The firm had revenue of $250.90 million during the quarter, compared to analysts’ expectations of $253.49 million. During the same quarter in the prior year, the company earned $0.16 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts expect that Extreme Networks, Inc will post 0.08 EPS for the current year.

Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of Extreme Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.00.

In other news, insider Edward Meyercord sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $7.67, for a total value of $383,500.00. Following the completion of the sale, the insider now owns 482,692 shares of the company’s stock, valued at approximately $3,702,247.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.45% of the stock is currently owned by corporate insiders.

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About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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Institutional Ownership by Quarter for Extreme Networks (NASDAQ:EXTR)

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