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

Thompson Siegel & Walmsley LLC trimmed its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,390 shares of the technology company’s stock after selling 72,687 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Extreme Networks were worth $6,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXTR. Charles Schwab Investment Management Inc. lifted its stake in Extreme Networks by 13.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,313,441 shares of the technology company’s stock worth $23,169,000 after acquiring an additional 158,906 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Extreme Networks by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock worth $43,976,000 after purchasing an additional 194,802 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Extreme Networks by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 727,432 shares of the technology company’s stock valued at $12,832,000 after purchasing an additional 5,121 shares in the last quarter. Norges Bank purchased a new position in Extreme Networks during the fourth quarter valued at approximately $33,267,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in Extreme Networks by 41.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 93,162 shares of the technology company’s stock worth $1,643,000 after buying an additional 27,323 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $14.85 on Monday. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $25.51. The business’s fifty day simple moving average is $14.10 and its 200-day simple moving average is $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. The company has a market cap of $1.94 billion, a PE ratio of -212.14, a PEG ratio of 3.19 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results 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 for the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The company’s quarterly revenue was down 29.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. Analysts expect that Extreme Networks, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum raised their price objective on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Insider Activity 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, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is currently 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.