Principal Financial Group Inc. Has $8.76 Million Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Principal Financial Group Inc. increased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 661,779 shares of the technology company's stock after purchasing an additional 19,248 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Extreme Networks worth $8,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in shares of 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 acquiring an additional 1,665 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Extreme Networks in the fourth quarter worth $33,000. Quarry LP boosted its position in shares of Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock worth $41,000 after purchasing an additional 719 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Extreme Networks by 105.6% in the 1st 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. Finally, Byrne Asset Management LLC grew its holdings in shares of Extreme Networks by 115.6% in the 1st quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock valued at $51,000 after buying an additional 2,081 shares during the period. Institutional investors own 91.05% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total transaction of $650,552.25. Following the sale, the chief executive officer owned 1,541,282 shares in the company, valued at approximately $28,066,745.22. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raj Khanna sold 7,973 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 233,735 shares of the company's stock, valued at approximately $4,020,242. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,450 shares of company stock valued at $1,313,523. Company insiders own 3.70% of the company's stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR remained flat at $17.48 during mid-day trading on Friday. The company had a trading volume of 427,373 shares, compared to its average volume of 1,204,976. The business's 50 day moving average price is $16.82 and its 200 day moving average price is $15.42. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The company has a market capitalization of $2.33 billion, a P/E ratio of -42.57, a P/E/G ratio of 2.01 and a beta of 1.73. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 2.33.

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

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.