Impax Asset Management Group plc Sells 225,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Impax Asset Management Group plc lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 25.0% in the third quarter, Holdings Channel reports. The institutional investor owned 675,178 shares of the technology company’s stock after selling 225,000 shares during the period. Impax Asset Management Group plc’s holdings in Extreme Networks were worth $10,148,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EXTR. Vanguard Group Inc. increased its position in Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after acquiring an additional 2,191,181 shares during the period. William Blair Investment Management LLC acquired a new stake in Extreme Networks in the second quarter valued at $25,409,000. Rubric Capital Management LP raised its position in Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after purchasing an additional 1,804,744 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Extreme Networks by 373.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after buying an additional 841,395 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Extreme Networks by 265.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after buying an additional 531,500 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXTR. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. B. Riley boosted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities lifted their target price on shares of Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Up 0.7 %

Shares of NASDAQ EXTR opened at $15.30 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm has a market cap of $2.02 billion, a PE ratio of -15.77, a P/E/G ratio of 3.48 and a beta of 1.77. The company’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $13.41. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same period last year, the company earned $0.24 EPS. Extreme Networks’s revenue for the quarter was down 29.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Extreme Networks, Inc. will post 0.25 earnings per share for the current fiscal year.

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.