MetLife Investment Management LLC Sells 2,640 Shares of Extreme Networks, Inc. $EXTR

MetLife Investment Management LLC trimmed its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 3.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 74,099 shares of the technology company’s stock after selling 2,640 shares during the period. MetLife Investment Management LLC’s holdings in Extreme Networks were worth $980,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Extreme Networks in the fourth quarter valued at $33,000. GAMMA Investing LLC increased its holdings in Extreme Networks by 105.6% in the first quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,628 shares during the period. Byrne Asset Management LLC increased its holdings in Extreme Networks by 115.6% in the first quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company’s stock valued at $51,000 after purchasing an additional 2,081 shares during the period. Avior Wealth Management LLC increased its holdings in Extreme Networks by 48.9% in the first quarter. Avior Wealth Management LLC now owns 13,998 shares of the technology company’s stock valued at $185,000 after purchasing an additional 4,594 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in Extreme Networks by 19.7% in the first quarter. Central Pacific Bank Trust Division now owns 19,089 shares of the technology company’s stock valued at $253,000 after purchasing an additional 3,135 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Insider Transactions at Extreme Networks

In other news, Director Raj Khanna sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $19.91, for a total value of $298,650.00. Following the completion of the sale, the director directly owned 216,708 shares in the company, valued at $4,314,656.28. This trade represents a 6.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward H. Kennedy sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $20.01, for a total value of $500,250.00. Following the completion of the sale, the director owned 612,691 shares of the company’s stock, valued at approximately $12,259,946.91. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,450 shares of company stock valued at $2,838,234. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Extreme Networks Stock Performance

Shares of EXTR opened at $21.70 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.74. The stock has a 50-day moving average of $19.16 and a 200-day moving average of $16.21. The company has a market cap of $2.89 billion, a PE ratio of -434.00, a P/E/G ratio of 2.35 and a beta of 1.84. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $22.63.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $307.00 million during the quarter, compared to the consensus estimate of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%.The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the business posted ($0.08) EPS. On average, equities research analysts predict that Extreme Networks, Inc. will post 0.31 EPS 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.