Lisanti Capital Growth LLC Sells 104,630 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Lisanti Capital Growth LLC trimmed its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 31.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,670 shares of the technology company's stock after selling 104,630 shares during the period. Lisanti Capital Growth LLC owned approximately 0.17% of Extreme Networks worth $3,039,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EXTR. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock valued at $38,103,000 after purchasing an additional 2,275,619 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Extreme Networks in the fourth quarter valued at about $16,573,000. JPMorgan Chase & Co. lifted its holdings in shares of Extreme Networks by 312.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after purchasing an additional 908,336 shares in the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Extreme Networks in the fourth quarter valued at about $14,229,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock valued at $299,965,000 after purchasing an additional 690,262 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $17.77 on Friday. The business's 50 day moving average price is $15.49 and its two-hundred day moving average price is $15.39. The company has a market cap of $2.37 billion, a PE ratio of -43.34, a price-to-earnings-growth ratio of 3.27 and a beta of 1.73. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 2.33. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EXTR. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, May 15th. UBS Group lowered their target price on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Lake Street Capital lowered their target price on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities lifted their target price on Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Two 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.92.

Insiders Place Their Bets

In related news, Director Raj Khanna sold 2,027 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $17.43, for a total value of $35,330.61. Following the completion of the sale, the director now directly owns 231,708 shares in the company, valued at approximately $4,038,670.44. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the completion of the sale, the chief executive officer now owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,725 shares of company stock valued at $662,970 over the last 90 days. 3.70% of the stock is currently owned by 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.

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