Principal Financial Group Inc. Reduces Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Principal Financial Group Inc. lessened its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 615,678 shares of the technology company's stock after selling 160,332 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Extreme Networks worth $9,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Extreme Networks by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company's stock valued at $14,192,000 after purchasing an additional 3,572 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company's stock worth $67,000 after acquiring an additional 4,709 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Extreme Networks by 8.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,823 shares of the technology company's stock worth $415,000 after acquiring an additional 2,487 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Extreme Networks by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 380,641 shares of the technology company's stock valued at $5,120,000 after purchasing an additional 13,700 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company's stock worth $14,348,000 after purchasing an additional 841,395 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insider Transactions at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raj Khanna sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now directly owns 228,733 shares of the company's stock, valued at $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,725 shares of company stock worth $863,546 over the last quarter. 3.70% of the stock is currently owned by insiders.

Extreme Networks Stock Down 0.4 %

Shares of EXTR traded down $0.06 on Tuesday, hitting $16.74. 514,116 shares of the stock traded hands, compared to its average volume of 1,735,020. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $19.24. The company has a market capitalization of $2.21 billion, a PE ratio of -17.26, a P/E/G ratio of 3.87 and a beta of 1.76. The business has a 50 day simple moving average of $16.59 and a 200 day simple moving average of $15.02. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Analysts Set New Price Targets

EXTR has been the subject of several recent research reports. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Rosenblatt Securities reissued a "buy" rating and set a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Finally, Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

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.