Mutual of America Capital Management LLC Trims Stake in Extreme Networks, Inc. $EXTR

Mutual of America Capital Management LLC decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,107 shares of the technology company’s stock after selling 2,225 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Extreme Networks were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Extreme Networks by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 661,779 shares of the technology company’s stock valued at $8,755,000 after acquiring an additional 19,248 shares during the period. Edgestream Partners L.P. lifted its position 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 worth $4,331,000 after purchasing an additional 142,332 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 1,628 shares during the period. Impax Asset Management Group plc lifted its position in Extreme Networks by 41.5% during the first 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, Focus Partners Wealth lifted its position in Extreme Networks by 25.3% during the 1st quarter. Focus Partners Wealth now owns 324,736 shares of the technology company’s stock valued at $4,296,000 after acquiring an additional 65,535 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Stock Performance

Shares of EXTR opened at $18.01 on Thursday. The company’s fifty day moving average price is $21.10 and its 200 day moving average price is $18.11. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $22.89. The company has a market capitalization of $2.41 billion, a PE ratio of -360.20, a price-to-earnings-growth ratio of 2.23 and a beta of 1.81. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.74.

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

Wall Street Analysts Forecast Growth

EXTR has been the subject of several analyst reports. Lake Street Capital upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 7th. Needham & Company LLC lifted their price objective on shares of Extreme Networks from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. UBS Group increased their target price on shares of Extreme Networks from $15.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Extreme Networks in a report on Wednesday, October 8th. Finally, Rosenblatt Securities boosted their price target on shares of Extreme Networks from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.92.

Insiders Place Their Bets

In other news, CFO Kevin R. Rhodes sold 14,000 shares of Extreme Networks stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $21.52, for a total transaction of $301,280.00. Following the sale, the chief financial officer directly owned 126,202 shares in the company, valued at $2,715,867.04. The trade was a 9.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raj Khanna sold 15,000 shares of Extreme Networks stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $19.91, for a total transaction of $298,650.00. Following the completion of the sale, the director directly owned 216,708 shares in the company, valued at approximately $4,314,656.28. This represents a 6.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 103,725 shares of company stock valued at $2,015,216. 3.60% of the stock is currently owned by company insiders.

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.