Corebridge Financial Inc. Sells 1,310 Shares of Extreme Networks, Inc. $EXTR

Corebridge Financial Inc. cut its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,458 shares of the technology company’s stock after selling 1,310 shares during the period. Corebridge Financial Inc. owned 0.05% of Extreme Networks worth $892,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Extreme Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 661,779 shares of the technology company’s stock worth $8,755,000 after acquiring an additional 19,248 shares during the last quarter. GAMMA Investing LLC lifted its position in Extreme Networks by 2,619.8% during the first quarter. GAMMA Investing LLC now owns 41,939 shares of the technology company’s stock worth $555,000 after acquiring an additional 40,397 shares during the last quarter. Edgestream Partners L.P. lifted its position in Extreme Networks by 76.9% during the first quarter. Edgestream Partners L.P. now owns 327,356 shares of the technology company’s stock worth $4,331,000 after acquiring an additional 142,332 shares during the last quarter. Impax Asset Management Group plc lifted its position in Extreme Networks by 41.5% during the first quarter. Impax Asset Management Group plc now owns 955,178 shares of the technology company’s stock worth $12,637,000 after acquiring an additional 280,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Extreme Networks by 24.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,225 shares of the technology company’s stock worth $4,976,000 after acquiring an additional 57,810 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EXTR shares. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Lake Street Capital upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 7th. Needham & Company LLC raised their target price on shares of Extreme Networks from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. UBS Group raised their target price on shares of Extreme Networks from $15.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Rosenblatt Securities raised their target price on shares of Extreme Networks from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.92.

Insider Activity at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $21.52, for a total value of $301,280.00. Following the completion of the transaction, the chief financial officer owned 126,202 shares of the company’s stock, valued at $2,715,867.04. This represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edward H. Kennedy sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $20.01, for a total transaction of $500,250.00. Following the completion of the transaction, the director owned 612,691 shares of the company’s stock, valued at approximately $12,259,946.91. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,450 shares of company stock worth $2,838,234. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $21.70 on Friday. The company’s 50 day moving average price is $19.16 and its two-hundred day moving average price is $16.21. The firm has a market capitalization of $2.89 billion, a P/E ratio of -434.00, a P/E/G ratio of 2.35 and a beta of 1.84. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $22.63. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.74.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $299.88 million. Extreme Networks had a negative net margin of 0.65% and a positive return on equity of 82.47%. The company’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. On average, equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks 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.