Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Clearline Capital LP

Clearline Capital LP decreased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 56.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,571 shares of the technology company’s stock after selling 346,789 shares during the period. Clearline Capital LP owned 0.20% of Extreme Networks worth $4,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Extreme Networks by 1,635.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,709 shares during the last quarter. KBC Group NV grew its holdings in shares of Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,745 shares during the period. Gladius Capital Management LP purchased a new stake in Extreme Networks in the 2nd quarter valued at about $90,000. Finally, Hennessy Advisors Inc. acquired a new position in Extreme Networks in the second quarter valued at about $148,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

EXTR has been the subject of a number of recent analyst reports. Craig Hallum lifted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, B. Riley raised their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Up 1.1 %

EXTR opened at $16.60 on Monday. The business has a fifty day moving average price of $15.42 and a 200 day moving average price of $14.07. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $18.77. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -17.11, a PEG ratio of 3.62 and a beta of 1.77.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the transaction, the director now owns 371,793 shares of the company’s stock, valued at $5,970,995.58. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,175 shares of company stock worth $1,927,079. 3.70% of the stock is currently owned by company insiders.

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.