Allspring Global Investments Holdings LLC Lowers Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Allspring Global Investments Holdings LLC trimmed its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 82.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,560 shares of the technology company's stock after selling 361,082 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Extreme Networks worth $1,351,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Extreme Networks by 4,924.4% in the 4th quarter. Allworth Financial LP now owns 2,060 shares of the technology company's stock worth $36,000 after buying an additional 2,019 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Extreme Networks during the 3rd quarter valued at $37,000. Tucker Asset Management LLC purchased a new stake in Extreme Networks during the 3rd quarter valued at $41,000. Harvest Fund Management Co. Ltd purchased a new stake in Extreme Networks during the 3rd quarter valued at $91,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Extreme Networks by 53.1% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,980 shares of the technology company's stock valued at $97,000 after purchasing an additional 1,380 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on EXTR. Rosenblatt Securities cut Extreme Networks from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $19.00 to $15.00 in a report on Thursday, February 1st. StockNews.com cut Extreme Networks from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. UBS Group cut Extreme Networks from a "buy" rating to a "neutral" rating and decreased their price target for the company from $22.00 to $14.00 in a report on Thursday, February 1st. Needham & Company LLC decreased their price target on Extreme Networks from $23.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, February 1st. Finally, TheStreet cut Extreme Networks from a "b-" rating to a "c+" rating in a report on Tuesday, February 20th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.36.

Insider Activity

In related news, CEO Edward Meyercord sold 28,443 shares of the business'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 completion of the transaction, the chief executive officer now owns 1,129,611 shares of the company's stock, valued at $14,956,049.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.32% of the company's stock.

Extreme Networks Trading Up 3.4 %

Shares of Extreme Networks stock traded up $0.36 on Tuesday, hitting $11.09. 1,316,717 shares of the company traded hands, compared to its average volume of 2,060,472. The stock's 50 day moving average price is $11.67 and its 200-day moving average price is $15.47. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.69. Extreme Networks, Inc. has a 52 week low of $10.57 and a 52 week high of $32.73. The company has a market cap of $1.43 billion, a PE ratio of 17.88, a PEG ratio of 3.91 and a beta of 1.90.

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