Principal Financial Group Inc. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR – Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656,528 shares of the technology company’s stock after purchasing an additional 17,187 shares during the quarter. Principal Financial Group Inc.’s holdings in Extreme Networks were worth $9,900,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of EXTR. Alyeska Investment Group L.P. increased its stake in shares of Extreme Networks by 301.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after buying an additional 2,232,373 shares during the period. Jain Global LLC purchased a new position in Extreme Networks in the fourth quarter worth approximately $17,361,000. Millennium Management LLC lifted its stake in Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after acquiring an additional 781,103 shares during the last quarter. Southernsun Asset Management LLC grew its holdings in Extreme Networks by 46.9% during the 4th quarter. Southernsun Asset Management LLC now owns 1,970,886 shares of the technology company’s stock worth $32,815,000 after acquiring an additional 629,486 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Extreme Networks during the 2nd quarter worth approximately $11,265,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
Extreme Networks Stock Down 0.8%
Shares of NASDAQ:EXTR opened at $29.49 on Friday. The firm has a 50 day simple moving average of $29.61 and a 200-day simple moving average of $21.00. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $3.86 billion, a PE ratio of 245.75, a P/E/G ratio of 1.81 and a beta of 1.77.
Insider Buying and Selling
In other news, Director Edward H. Kennedy sold 50,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $22.86, for a total value of $1,143,000.00. Following the completion of the sale, the director directly owned 576,045 shares of the company’s stock, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen M. Holmgren sold 19,521 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $24.78, for a total value of $483,730.38. Following the completion of the sale, the director directly owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. This trade represents a 8.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 592,182 shares of company stock valued at $15,423,978 over the last ninety days. Company insiders own 3.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Rosenblatt Securities boosted their target price on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Bank of America increased their target price on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 8th. Needham & Company LLC lifted their price target on Extreme Networks from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group set a $28.00 price objective on Extreme Networks in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and an average target price of $32.83.
Read Our Latest Stock Report on EXTR
Extreme Networks Company Profile
Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.
Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.
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