Principal Financial Group Inc. Purchases 26,853 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Principal Financial Group Inc. raised its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 642,531 shares of the technology company's stock after purchasing an additional 26,853 shares during the period. Principal Financial Group Inc. owned 0.49% of Extreme Networks worth $10,756,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. State Street Corp increased its stake in Extreme Networks by 1.0% in the third quarter. State Street Corp now owns 5,134,008 shares of the technology company's stock valued at $77,164,000 after acquiring an additional 49,905 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Extreme Networks by 318.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock valued at $67,124,000 after purchasing an additional 3,399,288 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Extreme Networks by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company's stock valued at $17,429,000 after purchasing an additional 8,169 shares during the last quarter. Portolan Capital Management LLC raised its holdings in shares of Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after buying an additional 700,724 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Extreme Networks by 57.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after buying an additional 269,459 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of the sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on EXTR shares. Lake Street Capital increased their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and set a $22.00 price objective on shares of Extreme Networks in a research report on Friday, February 7th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

Extreme Networks Trading Down 4.4 %

Shares of NASDAQ:EXTR traded down $0.68 during trading on Monday, reaching $14.77. The stock had a trading volume of 1,500,879 shares, compared to its average volume of 1,474,037. Extreme Networks, Inc. has a 52 week low of $10.50 and a 52 week high of $19.24. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The firm's fifty day moving average is $16.44 and its 200 day moving average is $15.91. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -15.71, a P/E/G ratio of 3.06 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. As a group, equities analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.