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

Sei Investments Co. grew its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 50.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 360,866 shares of the technology company’s stock after purchasing an additional 121,535 shares during the period. Sei Investments Co. owned approximately 0.28% of Extreme Networks worth $5,442,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Alyeska Investment Group L.P. lifted its holdings in shares of Extreme Networks by 301.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after purchasing an additional 2,232,373 shares during the period. Jain Global LLC acquired a new position in Extreme Networks in the 4th quarter valued at $17,361,000. SEB Asset Management AB purchased a new position in Extreme Networks during the 1st quarter worth $12,192,000. Millennium Management LLC raised its position in Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after buying an additional 781,103 shares during the last quarter. Finally, Southernsun Asset Management LLC lifted its stake in shares of Extreme Networks by 46.9% in the 4th quarter. Southernsun Asset Management LLC now owns 1,970,886 shares of the technology company’s stock worth $32,815,000 after acquiring an additional 629,486 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on EXTR shares. Rosenblatt Securities lifted their target price on shares of Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Bank of America boosted their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Finally, Needham & Company LLC increased their price objective on Extreme Networks from $26.00 to $38.00 and gave the stock a “buy” rating in a research 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. According to MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Extreme Networks Price Performance

EXTR stock opened at $32.34 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.73. The stock’s 50 day moving average price is $30.37 and its 200 day moving average price is $21.73. The firm has a market cap of $4.23 billion, a P/E ratio of 269.50, a PEG ratio of 1.84 and a beta of 1.79.

Insider Activity

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.10, for a total value of $2,610,000.00. Following the completion of the sale, the chief executive officer directly owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. The trade was a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the sale, the insider directly owned 120,834 shares of the company’s stock, valued at $3,749,479.02. The trade was a 19.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 422,182 shares of company stock worth $11,905,205. Company insiders own 3.60% of the company’s stock.

Extreme Networks 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.