Impax Asset Management Group plc Sells 225,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Impax Asset Management Group plc trimmed its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 675,178 shares of the technology company's stock after selling 225,000 shares during the period. Impax Asset Management Group plc owned about 0.52% of Extreme Networks worth $10,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in Extreme Networks by 101.8% in the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company's stock valued at $5,051,000 after acquiring an additional 220,763 shares during the period. Harbor Capital Advisors Inc. grew its stake in Extreme Networks by 297.1% in the second quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company's stock valued at $1,081,000 after acquiring an additional 60,131 shares during the period. M&G Plc acquired a new position in Extreme Networks in the first quarter valued at about $4,175,000. Victory Capital Management Inc. boosted its position in shares of Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company's stock worth $14,348,000 after buying an additional 841,395 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its position in shares of Extreme Networks by 491.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company's stock worth $4,488,000 after buying an additional 277,196 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday. B. Riley upped their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Extreme Networks has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Extreme Networks Stock Up 7.5 %

NASDAQ EXTR traded up $1.15 during trading hours on Wednesday, hitting $16.45. 2,605,605 shares of the company traded hands, compared to its average volume of 1,868,199. The business's 50-day moving average is $14.89 and its 200-day moving average is $13.41. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -15.77, a P/E/G ratio of 3.48 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). The business had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. Extreme Networks's quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Sell-side analysts anticipate that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,363,575.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock worth $1,763,279 over the last 90 days. Company insiders own 3.70% of the company's stock.

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.