Extreme Networks (NASDAQ:EXTR – Get Rating) is set to release its earnings data before the market opens on Wednesday, January 25th. Analysts expect Extreme Networks to post earnings of $0.24 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.
Extreme Networks (NASDAQ:EXTR – Get Rating) last issued its earnings results on Thursday, October 27th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Extreme Networks had a net margin of 3.87% and a return on equity of 69.86%. The company had revenue of $297.69 million for the quarter, compared to analysts’ expectations of $284.70 million. On average, analysts expect Extreme Networks to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Extreme Networks Stock Performance
NASDAQ:EXTR traded down $0.32 during trading hours on Tuesday, reaching $19.31. The company had a trading volume of 816,743 shares, compared to its average volume of 1,143,464. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 58.52 and a beta of 2.10. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 2.09. The firm’s 50 day moving average price is $19.24 and its 200-day moving average price is $15.79. Extreme Networks has a 52 week low of $8.49 and a 52 week high of $21.03.
Analyst Upgrades and Downgrades
Insider Buying and Selling
In other Extreme Networks news, Director Ingrid Burton sold 9,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $20.35, for a total transaction of $183,150.00. Following the transaction, the director now owns 63,243 shares of the company’s stock, valued at $1,286,995.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Joseph A. Vitalone sold 20,226 shares of the company’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $16.06, for a total value of $324,829.56. Following the completion of the transaction, the executive now owns 41,298 shares of the company’s stock, valued at $663,245.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ingrid Burton sold 9,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $20.35, for a total value of $183,150.00. Following the sale, the director now directly owns 63,243 shares in the company, valued at approximately $1,286,995.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,858 shares of company stock valued at $829,528. 3.16% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Extreme Networks
A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Extreme Networks by 23.4% during the first quarter. JPMorgan Chase & Co. now owns 879,703 shares of the technology company’s stock worth $10,742,000 after acquiring an additional 166,540 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Extreme Networks by 55.3% in the 1st quarter. MetLife Investment Management LLC now owns 66,855 shares of the technology company’s stock worth $816,000 after purchasing an additional 23,810 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Extreme Networks by 5.2% during the 1st quarter. Rhumbline Advisers now owns 318,117 shares of the technology company’s stock valued at $3,884,000 after purchasing an additional 15,816 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Extreme Networks by 13.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,394 shares of the technology company’s stock valued at $1,360,000 after purchasing an additional 13,231 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Extreme Networks by 1.6% in the first quarter. BlackRock Inc. now owns 17,359,864 shares of the technology company’s stock worth $211,964,000 after purchasing an additional 281,710 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.
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.
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