Voya Investment Management LLC Boosts Stock Position in Extreme Networks, Inc. $EXTR

Voya Investment Management LLC grew its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,661 shares of the technology company's stock after buying an additional 19,824 shares during the quarter. Voya Investment Management LLC owned 0.07% of Extreme Networks worth $1,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Extreme Networks by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 661,779 shares of the technology company's stock valued at $8,755,000 after buying an additional 19,248 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Extreme Networks by 2,619.8% in the 1st quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company's stock valued at $555,000 after buying an additional 40,397 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Extreme Networks by 76.9% in the 1st quarter. Edgestream Partners L.P. now owns 327,356 shares of the technology company's stock valued at $4,331,000 after buying an additional 142,332 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Extreme Networks by 41.5% in the 1st quarter. Impax Asset Management Group plc now owns 955,178 shares of the technology company's stock valued at $12,637,000 after buying an additional 280,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Extreme Networks by 24.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company's stock valued at $4,976,000 after buying an additional 57,810 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.

Extreme Networks Trading Down 1.6%

Shares of Extreme Networks stock opened at $21.86 on Wednesday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -437.20, a PEG ratio of 2.33 and a beta of 1.84. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $22.89. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91. The stock has a 50 day moving average of $20.19 and a 200 day moving average of $16.81.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $307.00 million during the quarter, compared to analyst estimates of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%.The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, research analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $17.18, for a total value of $613,755.50. Following the completion of the transaction, the chief executive officer directly owned 1,541,282 shares in the company, valued at approximately $26,479,224.76. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward H. Kennedy sold 25,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $20.01, for a total value of $500,250.00. Following the completion of the transaction, the director owned 612,691 shares of the company's stock, valued at $12,259,946.91. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,450 shares of company stock valued at $2,665,768. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of analyst reports. Needham & Company LLC upped their price target on Extreme Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Rosenblatt Securities upped their price target on Extreme Networks from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. UBS Group upped their price target on Extreme Networks from $15.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Lake Street Capital raised 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. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.92.

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.

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