Russell Investments Group Ltd. Raises Stock Holdings in Extreme Networks, Inc. $EXTR

Key Points

• Russell Investments Group Ltd. increased its stake in Extreme Networks, Inc. by 34.5%, owning approximately 0.21% of the company valued at $3.75 million as of the last quarter.
• Several analysts have recently upgraded their price targets for Extreme Networks, with Wall Street Zen assigning a "strong-buy" rating and a target of $22.92 after a consensus of positive earnings performance.
• CEO Edward Meyercord and Director Raj Khanna both sold significant shares in the company, with insiders having sold a total of 121,450 shares worth approximately $2.24 million in the past ninety days.

Russell Investments Group Ltd. grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 34.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 283,600 shares of the technology company's stock after acquiring an additional 72,748 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Extreme Networks worth $3,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Extreme Networks by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,543 shares of the technology company's stock valued at $361,000 after acquiring an additional 4,610 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Extreme Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 661,779 shares of the technology company's stock valued at $8,755,000 after acquiring an additional 19,248 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Extreme Networks by 2,619.8% during the first quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company's stock valued at $555,000 after acquiring an additional 40,397 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of Extreme Networks by 76.9% during the first quarter. Edgestream Partners L.P. now owns 327,356 shares of the technology company's stock valued at $4,331,000 after acquiring an additional 142,332 shares in the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Extreme Networks by 41.5% during the first quarter. Impax Asset Management Group plc now owns 955,178 shares of the technology company's stock valued at $12,637,000 after acquiring an additional 280,000 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Up 2.6%

NASDAQ EXTR traded up $0.57 on Thursday, hitting $22.08. The stock had a trading volume of 1,424,684 shares, compared to its average volume of 1,478,061. The business's fifty day moving average price is $18.66 and its 200 day moving average price is $15.98. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.74. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $22.09. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -441.60, a price-to-earnings-growth ratio of 2.25 and a beta of 1.75.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. Extreme Networks had a negative net margin of 0.65% and a positive return on equity of 82.47%. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $299.88 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The business's revenue for the quarter was up 19.6% on a year-over-year basis. Equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, Director Edward H. Kennedy sold 25,000 shares of Extreme Networks stock in a transaction on Monday, August 11th. The shares were sold at an average price of $20.01, for a total value of $500,250.00. Following the transaction, the director directly owned 612,691 shares of the company's stock, valued at approximately $12,259,946.91. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 15,000 shares of Extreme Networks stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $19.91, for a total transaction of $298,650.00. Following the completion of the transaction, the director directly owned 216,708 shares in the company, valued at $4,314,656.28. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,450 shares of company stock valued at $2,235,674. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXTR. Rosenblatt Securities lifted their price objective on shares of Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, August 7th. UBS Group lifted their price objective on shares of Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Lake Street Capital raised shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a report on Thursday, August 7th. Needham & Company LLC lifted their price objective on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.92.

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.