Fmr LLC Decreases Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Fmr LLC trimmed its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 352,321 shares of the technology company’s stock after selling 108,337 shares during the period. Fmr LLC owned approximately 0.27% of Extreme Networks worth $5,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Gladius Capital Management LP purchased a new stake in shares of Extreme Networks during the second quarter valued at $90,000. Nisa Investment Advisors LLC raised its holdings in shares of Extreme Networks by 9,654.6% during the second quarter. Nisa Investment Advisors LLC now owns 323,949 shares of the technology company’s stock valued at $4,357,000 after purchasing an additional 320,628 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks during the second quarter valued at approximately $148,000. Louisiana State Employees Retirement System lifted its position in Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after purchasing an additional 1,600 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in Extreme Networks by 27.0% in the second quarter. Raymond James Trust N.A. now owns 25,100 shares of the technology company’s stock worth $338,000 after purchasing an additional 5,331 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $18.18 on Friday. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The stock has a 50-day simple moving average of $15.91 and a two-hundred day simple moving average of $14.42. The firm has a market capitalization of $2.40 billion, a PE ratio of -18.74, a P/E/G ratio of 3.81 and a beta of 1.76. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $18.77.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley upped their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Insider Transactions at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the transaction, the director now directly owns 371,793 shares in the company, valued at approximately $5,970,995.58. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,450 shares of company stock valued at $1,390,490 over the last three months. Corporate insiders own 3.70% of the company’s stock.

About Extreme Networks

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.