Villanova Investment Management Co LLC Sells 55,642 Shares of Extreme Networks, Inc. $EXTR

Key Points

• Villanova Investment Management Co LLC reduced its stake in Extreme Networks, Inc. by 65.1%, now holding 29,783 shares worth approximately $394,000.
• Multiple institutional investors, including Barrow Hanley Mewhinney & Strauss LLC and Millennium Management LLC, significantly increased their stakes in Extreme Networks, indicating strong institutional interest.
• Following recent upgrades from various analysts, Extreme Networks has a consensus rating of "Moderate Buy" with a target price of $22.92, reflecting optimistic market sentiment.

Villanova Investment Management Co LLC reduced its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 65.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,783 shares of the technology company's stock after selling 55,642 shares during the period. Villanova Investment Management Co LLC's holdings in Extreme Networks were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Extreme Networks by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company's stock valued at $242,445,000 after acquiring an additional 406,350 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in Extreme Networks by 0.7% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,225,200 shares of the technology company's stock valued at $69,129,000 after acquiring an additional 35,400 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Extreme Networks by 13.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,012,386 shares of the technology company's stock valued at $66,314,000 after acquiring an additional 611,462 shares in the last quarter. Trigran Investments Inc. raised its holdings in Extreme Networks by 30.3% in the 1st quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company's stock valued at $41,098,000 after acquiring an additional 722,121 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Extreme Networks by 1.2% in the 1st quarter. American Century Companies Inc. now owns 2,871,898 shares of the technology company's stock valued at $37,995,000 after acquiring an additional 34,727 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Stock Performance

Shares of EXTR traded up $0.09 on Tuesday, reaching $22.39. 362,899 shares of the company's stock traded hands, compared to its average volume of 1,255,715. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 2.50. The stock has a market cap of $2.98 billion, a PE ratio of -447.60, a PEG ratio of 2.34 and a beta of 1.84. The stock's 50 day simple moving average is $19.62 and its two-hundred day simple moving average is $16.51. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $22.89.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 14,000 shares of Extreme Networks stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $21.52, for a total value of $301,280.00. Following the transaction, the chief financial officer owned 126,202 shares in the company, valued at approximately $2,715,867.04. The trade was a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Kennedy sold 25,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $20.01, for a total value of $500,250.00. Following the completion of the sale, the director directly owned 612,691 shares in the company, valued at $12,259,946.91. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,450 shares of company stock worth $2,838,234. Company insiders own 3.70% of the company's stock.

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.