Seven Eight Capital LP Has $1.52 Million Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Seven Eight Capital LP lowered its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 32.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,789 shares of the technology company’s stock after selling 62,114 shares during the quarter. Seven Eight Capital LP owned approximately 0.10% of Extreme Networks worth $1,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EXTR. Pacer Advisors Inc. lifted its holdings in shares of Extreme Networks by 167,176.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock worth $60,137,000 after acquiring an additional 3,407,064 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after acquiring an additional 2,191,181 shares during the last quarter. Norges Bank bought a new position in shares of Extreme Networks in the fourth quarter worth about $33,267,000. Voss Capital LLC lifted its holdings in shares of Extreme Networks by 55.6% in the fourth quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock worth $38,288,000 after acquiring an additional 775,500 shares during the last quarter. Finally, M&G Plc bought a new position in Extreme Networks in the 1st quarter valued at approximately $4,175,000. Institutional investors own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Rosenblatt Securities upgraded shares of Extreme Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $17.00 in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Monday, June 10th. B. Riley raised their price objective on shares of Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Craig Hallum upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $14.00 in a report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Extreme Networks Trading Up 1.8 %

Extreme Networks stock traded up $0.25 during mid-day trading on Tuesday, hitting $13.95. 913,988 shares of the stock were exchanged, compared to its average volume of 2,175,604. The company has a quick ratio of 0.61, a current ratio of 0.96 and a debt-to-equity ratio of 2.78. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $32.73. The firm’s fifty day simple moving average is $12.35 and its two-hundred day simple moving average is $12.54. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -199.14, a PEG ratio of 2.25 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). Extreme Networks had a positive return on equity of 37.36% and a negative net margin of 0.52%. The firm had revenue of $211.04 million for the quarter, compared to the consensus estimate of $207.80 million. Analysts forecast that Extreme Networks, Inc. will post 0.08 EPS for the current year.

Extreme Networks 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.