Allspring Global Investments Holdings LLC Cuts Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Allspring Global Investments Holdings LLC lowered its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 82.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,560 shares of the technology company’s stock after selling 361,082 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Extreme Networks worth $1,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Extreme Networks by 17.0% in the third quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock worth $312,191,000 after buying an additional 1,877,727 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Extreme Networks by 4.1% during the 4th quarter. Raymond James & Associates now owns 540,028 shares of the technology company’s stock worth $9,526,000 after acquiring an additional 21,203 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after acquiring an additional 3,407,064 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Extreme Networks during the 3rd quarter valued at approximately $31,284,000. Finally, Nordea Investment Management AB raised its stake in Extreme Networks by 11.2% during the fourth quarter. Nordea Investment Management AB now owns 254,097 shares of the technology company’s stock valued at $4,458,000 after purchasing an additional 25,614 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Analyst Upgrades and Downgrades

EXTR has been the topic of a number of research reports. UBS Group downgraded shares of Extreme Networks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $14.00 in a report on Thursday, February 1st. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. B. Riley raised Extreme Networks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Monday, April 15th. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Finally, Rosenblatt Securities lowered Extreme Networks from a “buy” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $15.00 in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Extreme Networks presently has an average rating of “Hold” and a consensus target price of $22.36.

Extreme Networks Price Performance

EXTR opened at $10.73 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.69. The business has a fifty day moving average of $11.67 and a 200 day moving average of $15.47. Extreme Networks, Inc. has a 52-week low of $10.57 and a 52-week high of $32.73. The stock has a market cap of $1.38 billion, a P/E ratio of 17.88, a PEG ratio of 3.91 and a beta of 1.90.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $296.38 million for the quarter, compared to analysts’ expectations of $295.50 million. Extreme Networks had a net margin of 5.96% and a return on equity of 98.24%. As a group, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 28,443 shares of Extreme Networks stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction of $376,585.32. Following the completion of the sale, the chief executive officer now owns 1,129,611 shares of the company’s stock, valued at $14,956,049.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.32% 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.