Paloma Partners Management Co lifted its position in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 249.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,422 shares of the technology company’s stock after acquiring an additional 49,569 shares during the period. Paloma Partners Management Co owned about 0.06% of Extreme Networks worth $868,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Copper Rock Capital Partners LLC bought a new position in Extreme Networks during the 4th quarter worth $24,503,000. Allianz Asset Management GmbH grew its stake in Extreme Networks by 811.5% during the 4th quarter. Allianz Asset Management GmbH now owns 933,210 shares of the technology company’s stock worth $11,684,000 after buying an additional 830,833 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Extreme Networks by 150.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 960,629 shares of the technology company’s stock worth $11,422,000 after buying an additional 576,529 shares during the last quarter. AXA grew its stake in Extreme Networks by 3,113.4% during the 4th quarter. AXA now owns 511,900 shares of the technology company’s stock worth $6,409,000 after buying an additional 495,970 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Extreme Networks during the 3rd quarter worth $4,991,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Extreme Networks from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. BidaskClub upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. JMP Securities assumed coverage on Extreme Networks in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Cowen restated a “buy” rating and set a $18.00 price objective on shares of Extreme Networks in a research note on Wednesday, February 7th. Finally, DA Davidson upped their price objective on Extreme Networks from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.25.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Extreme Networks had a positive return on equity of 44.24% and a negative net margin of 2.72%. The company had revenue of $231.12 million during the quarter, compared to analysts’ expectations of $241.49 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. research analysts expect that Extreme Networks, Inc will post 0.52 EPS for the current year.
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Extreme Networks Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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