Thompson Siegel & Walmsley LLC Trims Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Thompson Siegel & Walmsley LLC lessened its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,390 shares of the technology company’s stock after selling 72,687 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.38% of Extreme Networks worth $6,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Extreme Networks by 101.8% during the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock valued at $5,051,000 after purchasing an additional 220,763 shares during the period. Seven Eight Capital LP increased its holdings in Extreme Networks by 724.8% in the 4th quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock worth $3,420,000 after acquiring an additional 170,395 shares in the last quarter. Mirador Capital Partners LP increased its holdings in Extreme Networks by 68.1% in the 1st quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after acquiring an additional 100,075 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Extreme Networks by 297.1% during the second quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after purchasing an additional 60,131 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in Extreme Networks by 11.4% during the fourth quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock valued at $24,284,000 after purchasing an additional 141,015 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Extreme Networks stock opened at $14.85 on Monday. The firm has a market capitalization of $1.94 billion, a PE ratio of -212.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.77. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $25.51. The firm has a 50-day moving average price of $14.10 and a 200-day moving average price of $12.51. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05.

Extreme Networks (NASDAQ:EXTR) last announced 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 firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, equities research analysts forecast that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of analyst reports. Craig Hallum lifted their target price on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.90.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is owned by corporate 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.