Extreme Networks, Inc. (NASDAQ:EXTR) Stock Position Cut by Calamos Advisors LLC

Calamos Advisors LLC decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 57.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,991 shares of the technology company's stock after selling 71,006 shares during the period. Calamos Advisors LLC's holdings in Extreme Networks were worth $701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXTR. Sterling Capital Management LLC boosted its stake in shares of Extreme Networks by 603.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after acquiring an additional 1,665 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Extreme Networks during the 4th quarter worth about $33,000. Smartleaf Asset Management LLC boosted its stake in shares of Extreme Networks by 385.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock worth $37,000 after purchasing an additional 1,733 shares during the last quarter. Quarry LP grew its holdings in shares of Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock worth $41,000 after buying an additional 719 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Extreme Networks by 105.6% in the first quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after buying an additional 1,628 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 7,973 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $17.20, for a total value of $137,135.60. Following the sale, the director directly owned 233,735 shares of the company's stock, valued at $4,020,242. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total transaction of $650,552.25. Following the transaction, the chief executive officer owned 1,541,282 shares of the company's stock, valued at $28,066,745.22. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,450 shares of company stock worth $1,313,523. Insiders own 3.70% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EXTR. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Lake Street Capital dropped their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities raised their target price on shares of Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. UBS Group lowered their target price on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.92.

Extreme Networks Trading Down 1.2%

EXTR traded down $0.22 during trading on Monday, hitting $18.48. 1,327,614 shares of the company's stock were exchanged, compared to its average volume of 1,230,849. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $19.24. The stock has a 50 day moving average price of $16.15 and a 200 day moving average price of $15.39. The firm has a market cap of $2.46 billion, a P/E ratio of -45.07, a price-to-earnings-growth ratio of 2.20 and a beta of 1.73. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 2.33.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The firm had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The firm's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. As a group, analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

About Extreme Networks

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.