Villanova Investment Management Co LLC Has $394,000 Holdings in 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 stake 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 (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in Extreme Networks by 26.9% during the 1st quarter. Intech Investment Management LLC now owns 210,314 shares of the technology company's stock worth $2,782,000 after acquiring an additional 44,602 shares in the last quarter. Focus Partners Wealth grew its holdings in Extreme Networks by 25.3% during the 1st quarter. Focus Partners Wealth now owns 324,736 shares of the technology company's stock worth $4,296,000 after acquiring an additional 65,535 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Extreme Networks by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company's stock worth $4,226,000 after acquiring an additional 22,209 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Extreme Networks by 126.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 60,452 shares of the technology company's stock worth $800,000 after acquiring an additional 33,812 shares in the last quarter. Finally, Petrus Trust Company LTA acquired a new position in Extreme Networks during the 1st quarter worth $158,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Price Performance

Shares of EXTR stock traded down $0.53 during midday trading on Friday, reaching $22.32. 1,247,000 shares of the company were exchanged, compared to its average volume of 1,276,670. Extreme Networks, Inc. has a 12 month low of $10.10 and a 12 month high of $22.89. The company has a market cap of $2.97 billion, a P/E ratio of -446.40, a PEG ratio of 2.40 and a beta of 1.84. The company's 50 day moving average price is $19.55 and its two-hundred day moving average price is $16.45. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $307.00 million for the quarter, compared to the consensus estimate of $299.88 million. During the same period in the previous year, the firm earned ($0.08) EPS. Extreme Networks's revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on EXTR shares. Rosenblatt Securities lifted their price target 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. Needham & Company LLC lifted their price target 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. Lake Street Capital raised shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a report on Thursday, August 7th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, UBS Group lifted their price target 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. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.92.

Insider Activity

In related news, CFO Kevin R. Rhodes sold 14,000 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $21.52, for a total transaction of $301,280.00. Following the transaction, the chief financial officer directly owned 126,202 shares of the company's stock, valued at approximately $2,715,867.04. The trade was a 9.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $19.91, for a total transaction of $298,650.00. Following the transaction, the director directly owned 216,708 shares in the company, valued at $4,314,656.28. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,450 shares of company stock valued at $2,838,234. 3.70% of the stock is currently owned by insiders.

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.