Squarepoint Ops LLC Acquires New Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Squarepoint Ops LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 129,730 shares of the technology company’s stock, valued at approximately $1,745,000. Squarepoint Ops LLC owned 0.10% of Extreme Networks at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Andina Capital Management LLC raised its position in shares of Extreme Networks by 3.8% in the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after buying an additional 719 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Extreme Networks by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after acquiring an additional 1,600 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Extreme Networks by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock valued at $294,000 after acquiring an additional 1,741 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Extreme Networks by 4.9% during the second quarter. Ensign Peak Advisors Inc now owns 47,907 shares of the technology company’s stock worth $644,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Extreme Networks in the first quarter worth approximately $27,000. 91.05% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXTR. Craig Hallum boosted their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $14.94 on Friday. The company’s fifty day moving average is $14.51 and its 200 day moving average is $12.83. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $25.51. The stock has a market cap of $1.94 billion, a PE ratio of -213.43, a PEG ratio of 3.46 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The company had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue was down 29.5% on a year-over-year basis. Research analysts anticipate that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Extreme Networks Company 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.