Los Angeles Capital Management & Equity Research Inc. lessened its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,102 shares of the technology company’s stock after selling 6,640 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.11% of Extreme Networks worth $1,020,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EXTR. BlackRock Inc. grew its position in shares of Extreme Networks by 100.6% during the 1st quarter. BlackRock Inc. now owns 15,107,599 shares of the technology company’s stock valued at $167,242,000 after acquiring an additional 7,577,376 shares during the period. JPMorgan Chase & Co. grew its position in shares of Extreme Networks by 7.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,592,011 shares of the technology company’s stock valued at $28,695,000 after acquiring an additional 188,494 shares during the period. Redwood Investments LLC grew its position in shares of Extreme Networks by 12.4% during the 1st quarter. Redwood Investments LLC now owns 1,677,419 shares of the technology company’s stock valued at $18,569,000 after acquiring an additional 185,520 shares during the period. Northern Trust Corp grew its position in shares of Extreme Networks by 4.1% during the 1st quarter. Northern Trust Corp now owns 1,433,605 shares of the technology company’s stock valued at $15,869,000 after acquiring an additional 56,044 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Extreme Networks by 49.2% during the 1st quarter. Stifel Financial Corp now owns 1,376,537 shares of the technology company’s stock valued at $15,242,000 after acquiring an additional 453,694 shares during the period. 85.62% of the stock is owned by institutional investors and hedge funds.

EXTR has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Cowen downgraded shares of Extreme Networks from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $16.00 to $6.50 in a report on Thursday, August 9th. ValuEngine raised shares of Extreme Networks from a “strong sell” rating to a “sell” rating in a report on Thursday, July 26th. JMP Securities dropped their target price on shares of Extreme Networks from $12.00 to $9.00 and set a “market outperform” rating for the company in a report on Thursday, August 9th. Finally, DA Davidson dropped their target price on shares of Extreme Networks to $13.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.75.

In other news, Director Raj Khanna bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was bought at an average price of $8.96 per share, with a total value of $89,600.00. Following the acquisition, the director now owns 109,523 shares of the company’s stock, valued at approximately $981,326.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Shares of Extreme Networks stock opened at $6.26 on Friday. The firm has a market capitalization of $748.67 million, a P/E ratio of 14.23, a PEG ratio of 0.40 and a beta of 1.39. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 1.67. Extreme Networks, Inc has a fifty-two week low of $5.35 and a fifty-two week high of $15.55.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $278.30 million during the quarter, compared to the consensus estimate of $279.22 million. Extreme Networks had a negative net margin of 4.76% and a positive return on equity of 43.70%. Extreme Networks’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. sell-side analysts forecast that Extreme Networks, Inc will post 0.96 EPS for the current year.

Extreme Networks Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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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