Royce & Associates LP Sells 36,918 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Posted by on Aug 6th, 2023

Royce & Associates LP decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR – Free Report) by 43.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,094 shares of the technology company’s stock after selling 36,918 shares during the period. Royce & Associates LP’s holdings in Extreme Networks were worth $920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Extreme Networks by 1.6% in the first quarter. BlackRock Inc. now owns 17,359,864 shares of the technology company’s stock worth $211,964,000 after acquiring an additional 281,710 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Extreme Networks by 7.3% in the first quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock worth $147,332,000 after acquiring an additional 821,201 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Extreme Networks by 24.0% in the first quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after buying an additional 2,141,000 shares in the last quarter. State Street Corp lifted its stake in shares of Extreme Networks by 0.7% in the third quarter. State Street Corp now owns 4,437,359 shares of the technology company’s stock worth $57,996,000 after buying an additional 31,937 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Extreme Networks by 16.5% in the second quarter. Goldman Sachs Group Inc. now owns 3,589,950 shares of the technology company’s stock worth $32,022,000 after buying an additional 507,902 shares in the last quarter. 86.93% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Stock Performance

EXTR stock opened at $30.44 on Friday. The stock’s fifty day moving average price is $25.31 and its 200-day moving average price is $20.59. Extreme Networks, Inc. has a 1 year low of $12.09 and a 1 year high of $31.61. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.00 and a quick ratio of 0.82. The company has a market cap of $3.93 billion, a P/E ratio of 52.48 and a beta of 2.00.

Wall Street Analysts Forecast Growth

EXTR has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Extreme Networks in a research note on Tuesday, June 27th. They issued an “outperform” rating and a $35.00 target price on the stock. Needham & Company LLC boosted their price target on Extreme Networks from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities boosted their price target on Extreme Networks from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley cut Extreme Networks from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $25.00 to $30.00 in a research note on Thursday. Finally, Lake Street Capital lifted their price target on shares of Extreme Networks from $27.00 to $33.00 in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.71.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 167,587 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $21.18, for a total value of $3,549,492.66. Following the transaction, the chief executive officer now owns 710,385 shares in the company, valued at approximately $15,045,954.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 194,858 shares of company stock worth $4,119,020 in the last quarter. Company insiders own 3.16% of the company’s stock.

Extreme Networks Profile

(Free Report)

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.

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

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