Principal Financial Group Inc. Purchases 19,248 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Principal Financial Group Inc. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 661,779 shares of the technology company’s stock after buying 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 SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EXTR. Teacher Retirement System of Texas purchased a new position in shares of Extreme Networks during the first quarter worth approximately $268,000. Avior Wealth Management LLC lifted its stake in shares of Extreme Networks by 48.9% in the first quarter. Avior Wealth Management LLC now owns 13,998 shares of the technology company’s stock worth $185,000 after buying an additional 4,594 shares in the last quarter. Byrne Asset Management LLC lifted its position in Extreme Networks by 115.6% during the first quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company’s stock valued at $51,000 after purchasing an additional 2,081 shares during the period. SG Americas Securities LLC increased its holdings in Extreme Networks by 25.1% during the first quarter. SG Americas Securities LLC now owns 62,288 shares of the technology company’s stock valued at $824,000 after buying an additional 12,503 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Extreme Networks by 105.6% during the first 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 during the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Down 1.3%

EXTR stock opened at $17.07 on Tuesday. The firm has a 50 day moving average of $16.60 and a 200 day moving average of $15.40. The stock has a market capitalization of $2.27 billion, a PE ratio of -41.63, a price-to-earnings-growth ratio of 2.03 and a beta of 1.73. 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 52 week low of $10.10 and a 52 week high of $19.24.

Extreme Networks (NASDAQ:EXTR) last announced 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 negative net margin of 4.94% and a positive return on equity of 13.79%. The business had revenue of $284.51 million during the quarter, compared to analysts’ expectations of $280.32 million. During the same period in the previous year, the business posted ($0.19) EPS. The business’s quarterly revenue was up 34.8% compared to the same quarter last year. Sell-side analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $18.21, for a total transaction 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 $28,066,745.22. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raj Khanna sold 2,027 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $17.43, for a total transaction of $35,330.61. Following the completion of the sale, the director directly owned 231,708 shares of the company’s stock, valued at $4,038,670.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 81,450 shares of company stock valued at $1,313,523. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EXTR shares. UBS Group reduced their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Lake Street Capital lowered their target price on shares of Extreme Networks from $16.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Extreme Networks in a research note 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. Finally, Rosenblatt Securities raised their target price on shares of Extreme Networks from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.92.

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.