Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC lowered its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 45.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,523 shares of the technology company's stock after selling 38,477 shares during the quarter. ABS Direct Equity Fund LLC's holdings in Extreme Networks were worth $779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EXTR. Squarepoint Ops LLC bought a new stake in Extreme Networks in the 2nd quarter worth approximately $1,745,000. The Manufacturers Life Insurance Company increased its position in Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company's stock worth $867,000 after purchasing an additional 1,749 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Extreme Networks by 75.3% in the 2nd quarter. Mackenzie Financial Corp now owns 26,888 shares of the technology company's stock worth $362,000 after buying an additional 11,549 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Extreme Networks by 491.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company's stock worth $4,488,000 after buying an additional 277,196 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Extreme Networks by 61.1% in the second quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company's stock worth $9,270,000 after acquiring an additional 261,322 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Wall Street Analyst Weigh In

EXTR has been the topic of several recent research reports. B. Riley increased their price target on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Craig Hallum boosted their target price on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. Lake Street Capital raised their price target on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.25.

Extreme Networks Stock Up 0.8 %

NASDAQ:EXTR traded up $0.12 during mid-day trading on Friday, reaching $15.72. The company's stock had a trading volume of 651,731 shares, compared to its average volume of 960,849. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $19.24. The stock has a fifty day moving average of $17.19 and a 200-day moving average of $15.59. The firm has a market capitalization of $2.08 billion, a PE ratio of -16.74, a price-to-earnings-growth ratio of 3.44 and a beta of 1.75.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 117.77%. Equities research analysts forecast that Extreme Networks, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares in the company, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by 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.