Extreme Networks, Inc. (NASDAQ:EXTR) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 3.0% in the first quarter, according to the company in its most recent 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 quarter. Principal Financial Group Inc. owned approximately 0.50% of Extreme Networks worth $8,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXTR. Teacher Retirement System of Texas purchased a new stake in shares of Extreme Networks during the 1st quarter valued at about $268,000. Avior Wealth Management LLC increased its holdings in Extreme Networks by 48.9% during the first quarter. Avior Wealth Management LLC now owns 13,998 shares of the technology company's stock valued at $185,000 after buying an additional 4,594 shares during the last quarter. Byrne Asset Management LLC raised its position in Extreme Networks by 115.6% in the first quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock worth $51,000 after acquiring an additional 2,081 shares during the period. SG Americas Securities LLC boosted its stake in shares of Extreme Networks by 25.1% during the 1st quarter. SG Americas Securities LLC now owns 62,288 shares of the technology company's stock worth $824,000 after acquiring an additional 12,503 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Extreme Networks by 105.6% during the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock valued at $42,000 after acquiring an additional 1,628 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $18.21, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raj Khanna sold 2,027 shares of the stock in a transaction 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 transaction, the director owned 231,708 shares of the company's stock, valued at approximately $4,038,670.44. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,450 shares of company stock valued at $1,313,523 in the last ninety days. Insiders own 3.70% of the company's stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR traded down $0.29 during trading on Tuesday, reaching $16.78. 1,128,363 shares of the company's stock traded hands, compared to its average volume of 1,215,641. 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 fifty-two week low of $10.10 and a fifty-two week high of $19.24. The company has a 50-day simple moving average of $16.60 and a 200-day simple moving average of $15.40. The firm has a market cap of $2.23 billion, a PE ratio of -40.93, a P/E/G ratio of 2.03 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 EPS for the quarter, beating 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 company had revenue of $284.51 million for the quarter, compared to analyst estimates of $280.32 million. During the same period last year, the company earned ($0.19) earnings per share. Extreme Networks's quarterly revenue was up 34.8% compared to the same quarter last year. As a group, analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on EXTR. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research report on Thursday, May 15th. 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. Rosenblatt Securities boosted 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. Lake Street Capital lowered their price target 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. Finally, UBS Group cut their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.92.

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.