Impax Asset Management Group plc Buys 280,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Impax Asset Management Group plc increased its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 955,178 shares of the technology company's stock after acquiring an additional 280,000 shares during the period. Impax Asset Management Group plc owned about 0.72% of Extreme Networks worth $12,637,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in Extreme Networks by 603.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after purchasing an additional 1,665 shares during the period. Orion Capital Management LLC bought a new position in Extreme Networks during the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC grew its position in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after buying an additional 1,733 shares during the period. Quarry LP grew its position in Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after buying an additional 719 shares during the period. Finally, GAMMA Investing LLC grew its position in Extreme Networks by 105.6% during 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 period. 91.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EXTR has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a research report on Thursday, May 15th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Lake Street Capital reduced their price objective on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, May 1st. UBS Group cut their price target on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities increased their price target on Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.92.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded up $0.25 during trading hours on Friday, reaching $18.69. The company had a trading volume of 623,558 shares, compared to its average volume of 1,230,462. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24. The business has a fifty day simple moving average of $16.15 and a 200 day simple moving average of $15.41. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.93 and a quick ratio of 0.70. The firm has a market cap of $2.49 billion, a PE ratio of -45.59, a price-to-earnings-growth ratio of 2.20 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Extreme Networks had a positive return on equity of 13.79% and a negative net margin of 4.94%. The business had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. During the same quarter last year, the company earned ($0.19) EPS. The firm's revenue was up 34.8% compared to the same quarter last year. On average, analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total transaction of $650,552.25. Following the completion of the sale, the chief executive officer owned 1,541,282 shares of the company's stock, valued at approximately $28,066,745.22. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raj Khanna sold 7,973 shares of Extreme Networks stock in a transaction on Monday, June 23rd. The shares were 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 represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,450 shares of company stock valued at $1,313,523 over the last 90 days. 3.70% of the stock is owned by company insiders.

Extreme Networks 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.