Westfield Capital Management Co. LP Has $18.15 Million Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Key Points

• Westfield Capital Management Co. LP reduced its holdings in Extreme Networks, Inc. by 7.9%, trimming its position to 1,371,749 shares, valued at approximately $18.1 million.
• Several institutional investors, including Sterling Capital Management LLC and Byrne Asset Management LLC, significantly increased their stakes in Extreme Networks during the fourth quarter.
• Extreme Networks received a strong-buy rating upgrade from Wall Street Zen, with a target price increase from $18.00 to $20.00 following positive analyst reports.

Westfield Capital Management Co. LP lessened its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 7.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,371,749 shares of the technology company's stock after selling 118,369 shares during the period. Westfield Capital Management Co. LP owned 1.03% of Extreme Networks worth $18,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXTR. Sterling Capital Management LLC grew its position 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 buying an additional 1,665 shares in the last quarter. Orion Capital Management LLC bought a new position in Extreme Networks in the 4th quarter valued at about $33,000. Quarry LP grew its position in Extreme Networks by 42.1% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after buying an additional 719 shares in the last quarter. GAMMA Investing LLC grew its position in 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 in the last quarter. Finally, Byrne Asset Management LLC grew its position in 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 in the last quarter. Institutional investors own 91.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXTR. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Needham & Company LLC raised their price objective on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday. UBS Group raised their price objective on shares of Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday. Rosenblatt Securities raised their price objective on shares of Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Lake Street Capital upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research report on Thursday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Extreme Networks has an average rating of "Buy" and an average target price of $22.92.

Extreme Networks Trading Up 0.1%

Shares of EXTR traded up $0.01 during midday trading on Friday, hitting $19.95. The stock had a trading volume of 1,698,452 shares, compared to its average volume of 1,221,914. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $21.34. The business has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $15.54. The firm has a market cap of $2.66 billion, a P/E ratio of -399.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.75. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.50.

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

Insider Activity

In other news, Director Raj Khanna sold 7,973 shares of the 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 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 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, 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 transaction of $613,755.50. Following the completion of the sale, the chief executive officer directly owned 1,541,282 shares of the company's stock, valued at $26,479,224.76. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,450 shares of company stock valued at $1,436,774. Corporate insiders own 3.70% of the company's stock.

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.