Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by South Street Advisors LLC

South Street Advisors LLC trimmed its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,990 shares of the technology company’s stock after selling 17,610 shares during the quarter. South Street Advisors LLC owned about 0.23% of Extreme Networks worth $4,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Extreme Networks by 16.9% during the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after buying an additional 2,191,181 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after purchasing an additional 3,399,288 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Extreme Networks during the second quarter worth $25,409,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Extreme Networks by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock valued at $14,192,000 after purchasing an additional 3,572 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Insider Activity at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction 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. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 117,175 shares of company stock worth $1,763,279. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Craig Hallum lifted their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. B. Riley raised their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Down 3.0 %

NASDAQ EXTR traded down $0.49 during trading hours on Friday, hitting $15.61. The company’s stock had a trading volume of 814,978 shares, compared to its average volume of 1,848,594. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm has a market capitalization of $2.06 billion, a P/E ratio of -16.09, a PEG ratio of 3.63 and a beta of 1.77. The stock has a fifty day moving average of $15.10 and a 200 day moving average of $13.65.

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.