Versor Investments LP, a prominent investment firm, has recently disclosed its new position in Extreme Networks, Inc. According to the company’s latest filing with the Securities and Exchange Commission (SEC), Versor Investments LP purchased 19,030 shares of Extreme Networks’ stock during the third quarter. The total value of this acquisition amounts to approximately $286,000.
This move by Versor Investments LP is part of a broader trend among institutional investors modifying their holdings in Extreme Networks. GAMMA Investing LLC, for instance, witnessed a significant increase of 109.5% in its holdings of Extreme Networks’ shares during the third quarter. Acadian Asset Management LLC also entered the scene by purchasing a stake in Extreme Networks during the first quarter, valued at around $27,000. Allspring Global Investments Holdings LLC experienced a remarkable growth of 1,635.1% in its holdings of Extreme Networks’ stock during the second quarter. Gladius Capital Management LP and Hennessy Advisors Inc. also acquired stakes in Extreme Networks during the second quarter, worth approximately $90,000 and $148,000, respectively. Overall, hedge funds and other institutional investors now own 91.05% of Extreme Networks’ stock.
Extreme Networks, Inc., listed on NASDAQ under the ticker symbol EXTR, opened at $15.61 on Friday. The company’s stock has a 52-week low of $10.49 and a 52-week high of $18.77. With a market capitalization of $2.06 billion, Extreme Networks has a price-to-earnings ratio of -16.09 and a PEG ratio of 3.63. The stock’s beta stands at 1.77. Extreme Networks’ fifty-day moving average is $15.10, while its 200-day moving average is $13.65. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63, and a current ratio of 0.91.
Wall Street analysts have provided their insights on Extreme Networks, with several research firms issuing ratings and price targets. Needham & Company LLC reaffirmed a “buy” rating and set a price target of $16.50 on Extreme Networks’ shares. Rosenblatt Securities also reaffirmed a “buy” rating and set a price target of $21.00. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating. B. Riley increased their price target from $18.00 to $21.00 and assigned a “buy” rating to the stock. Craig Hallum also raised their price target from $17.00 to $22.50 and assigned a “buy” rating.
Extreme Networks, Inc. specializes in delivering cloud-driven networking solutions that leverage machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment, along with developing software for network management, policy, analytics, security, and access controls.
For more information on Extreme Networks and its recent developments, readers can refer to the latest 13F filings and insider trades on HoldingsChannel.com.