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

Principal Financial Group Inc. lowered its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 20.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 615,678 shares of the technology company's stock after selling 160,332 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Extreme Networks worth $9,254,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Andina Capital Management LLC grew its stake in Extreme Networks by 3.8% in the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company's stock valued at $264,000 after purchasing an additional 719 shares in the last quarter. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 1,035 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Extreme Networks by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company's stock worth $880,000 after purchasing an additional 1,600 shares during the last quarter. ProShare Advisors LLC raised its holdings in Extreme Networks by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company's stock valued at $294,000 after acquiring an additional 1,741 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Extreme Networks by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company's stock worth $867,000 after buying an additional 1,749 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Price Performance

EXTR stock traded up $0.11 during trading on Tuesday, reaching $15.44. The company had a trading volume of 182,835 shares, compared to its average volume of 1,835,655. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm has a 50-day simple moving average of $15.14 and a 200-day simple moving average of $13.71.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EXTR shares. Needham & Company LLC restated a "buy" rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum raised their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a report on Thursday, October 31st. B. Riley raised their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares of the company's stock, valued at $3,780,956.49. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,175 shares of company stock valued at $1,763,279 in the last 90 days. 3.70% of the stock is owned by insiders.

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.