Sei Investments Co. Boosts Holdings in Extreme Networks, Inc. $EXTR

Sei Investments Co. grew its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 50.8% in the first quarter, HoldingsChannel reports. The fund owned 360,866 shares of the technology company’s stock after buying an additional 121,535 shares during the quarter. Sei Investments Co.’s holdings in Extreme Networks were worth $5,442,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Extreme Networks by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after acquiring an additional 349,199 shares during the last quarter. State Street Corp increased its position in Extreme Networks by 3.9% during the fourth quarter. State Street Corp now owns 5,664,493 shares of the technology company’s stock worth $94,314,000 after purchasing an additional 213,094 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position in Extreme Networks by 0.8% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 4,972,500 shares of the technology company’s stock worth $82,792,000 after purchasing an additional 40,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Extreme Networks by 13.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,017,063 shares of the technology company’s stock worth $50,234,000 after purchasing an additional 358,670 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Extreme Networks by 301.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after purchasing an additional 2,232,373 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on EXTR. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Rosenblatt Securities lifted their target price on Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Lake Street Capital boosted their price target on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Finally, Needham & Company LLC raised their price objective on Extreme Networks from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Insider Buying and Selling at Extreme Networks

In related news, Director Kathleen M. Holmgren sold 19,521 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the completion of the sale, the director directly owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. This represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin R. Rhodes sold 35,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the completion of the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at approximately $4,603,937.28. This represents a 18.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 422,182 shares of company stock worth $11,905,205. Insiders own 3.60% of the company’s stock.

Extreme Networks Price Performance

EXTR opened at $32.34 on Wednesday. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73. The company has a 50 day moving average of $30.37 and a two-hundred day moving average of $21.73. The company has a market cap of $4.23 billion, a P/E ratio of 269.50, a P/E/G ratio of 1.84 and a beta of 1.79. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89.

Extreme Networks Company Profile

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.