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

Impax Asset Management Group plc cut its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,178 shares of the technology company's stock after selling 225,000 shares during the period. Impax Asset Management Group plc owned 0.51% of Extreme Networks worth $10,148,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in EXTR. Acadian Asset Management LLC bought a new stake in Extreme Networks in the first quarter worth $27,000. GAMMA Investing LLC boosted its stake in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock worth $30,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 valued at $67,000 after acquiring an additional 4,709 shares during the last quarter. KBC Group NV raised its stake in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after acquiring an additional 1,745 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Extreme Networks in the 2nd quarter worth approximately $90,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EXTR. Needham & Company LLC reissued a "buy" rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. StockNews.com downgraded shares of Extreme Networks from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Craig Hallum upped their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a "buy" rating and issued a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Extreme Networks presently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Extreme Networks Stock Performance

Shares of EXTR traded down $0.49 during trading hours on Friday, reaching $15.61. 814,978 shares of the company traded hands, compared to its average volume of 1,848,594. 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's fifty day moving average is $15.14 and its 200 day moving average is $13.67. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $18.77. The stock has a market cap of $2.06 billion, a P/E ratio of -16.09, a price-to-earnings-growth ratio of 3.63 and a beta of 1.77.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,667,734.88. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the director now directly owns 228,733 shares of the company's stock, valued at approximately $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 a total of 117,175 shares of company stock valued at $1,763,279 in the last quarter. Corporate insiders own 3.70% of the company's stock.

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.