Impax Asset Management Group plc Sells 100,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Impax Asset Management Group plc reduced its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 29.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,178 shares of the technology company's stock after selling 100,000 shares during the quarter. Impax Asset Management Group plc owned about 0.19% of Extreme Networks worth $4,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. bought a new position in Extreme Networks during the third quarter worth about $37,000. Tucker Asset Management LLC acquired a new position in shares of Extreme Networks in the 3rd quarter valued at approximately $41,000. Meeder Asset Management Inc. increased its stake in Extreme Networks by 49.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company's stock worth $33,000 after purchasing an additional 592 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Extreme Networks by 101.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company's stock worth $45,000 after buying an additional 947 shares during the period. Finally, Allworth Financial LP lifted its stake in Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company's stock valued at $36,000 after buying an additional 2,019 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EXTR has been the topic of several research reports. TheStreet cut shares of Extreme Networks from a "b-" rating to a "c+" rating in a research report on Tuesday, February 20th. Needham & Company LLC dropped their target price on Extreme Networks from $23.00 to $16.50 and set a "buy" rating on the stock in a research report on Thursday, February 1st. Rosenblatt Securities downgraded Extreme Networks from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $19.00 to $15.00 in a research report on Thursday, February 1st. StockNews.com cut shares of Extreme Networks from a "buy" rating to a "hold" rating in a research note on Thursday, February 1st. Finally, B. Riley cut their price objective on shares of Extreme Networks from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $22.36.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 28,443 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total value of $376,585.32. Following the sale, the chief executive officer now directly owns 1,129,611 shares in the company, valued at approximately $14,956,049.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.32% of the stock is currently owned by insiders.

Extreme Networks Stock Performance

Extreme Networks stock traded up $0.11 during mid-day trading on Thursday, hitting $11.07. 1,338,013 shares of the company's stock traded hands, compared to its average volume of 2,085,705. Extreme Networks, Inc. has a fifty-two week low of $10.85 and a fifty-two week high of $32.73. The firm has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $16.26. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.96 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. The business had revenue of $296.38 million during the quarter, compared to analyst estimates of $295.50 million. On average, research analysts expect that Extreme Networks, Inc. will post 0.17 EPS for the current fiscal year.

Extreme Networks Company 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.