16 Dec CTO Jon Cartu Reports – Maverick Capital Ltd. Acquires 244,146 Shares of Extreme…
Maverick Capital Ltd. boosted its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 118.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,926 shares of the technology company’s stock after acquiring an additional 244,146 shares during the quarter. Maverick Capital Ltd. owned 0.37% of Extreme Networks worth $3,280,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in Extreme Networks in the 2nd quarter valued at $27,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Extreme Networks during the 2nd quarter worth approximately $46,000. Westwood Holdings Group Inc. bought a new stake in shares of Extreme Networks during the 2nd quarter worth approximately $65,000. Atria Investments LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $154,000. Finally, Bailard Inc. bought a new position in shares of Extreme Networks in the second quarter valued at $68,000. 81.09% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on EXTR. BidaskClub downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, September 20th. ValuEngine raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Extreme Networks presently has an average rating of “Hold” and a consensus price target of $10.00.
Shares of NASDAQ:EXTR opened at $6.99 on Monday. The firm has a 50 day moving average of $6.84 and a 200-day moving average of $6.87. The stock has a market capitalization of $827.87 million, a PE ratio of 53.77 and a beta of 1.68. The company has a current ratio of 1.06, a quick ratio of 0.86 and a debt-to-equity ratio of 4.42. Extreme Networks, Inc has a 12 month low of $5.09 and a 12 month high of $8.59.
Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $255.51 million during the quarter, compared to analysts’ expectations of $253.26 million. Extreme Networks had a negative net margin of 5.39% and a positive return on equity of 10.49%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. On average, research analysts predict that Extreme Networks, Inc will post 0.36 EPS for the current fiscal year.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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