ABS Direct Equity Fund LLC Sells 65,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

ABS Direct Equity Fund LLC lowered its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 43.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,000 shares of the technology company's stock after selling 65,000 shares during the period. Extreme Networks makes up 1.4% of ABS Direct Equity Fund LLC's holdings, making the stock its 26th largest position. ABS Direct Equity Fund LLC owned approximately 0.06% of Extreme Networks worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EXTR. Victory Capital Management Inc. raised its stake in shares of Extreme Networks by 318.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock worth $67,124,000 after buying an additional 3,399,288 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Extreme Networks in the 2nd quarter worth $25,409,000. Rubric Capital Management LP raised its stake 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 buying an additional 1,804,744 shares in the last quarter. Portolan Capital Management LLC raised its stake in shares of Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after buying an additional 700,724 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Extreme Networks by 265.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company's stock worth $9,839,000 after buying an additional 531,500 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at $21,667,734.88. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares of the company's stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,450 shares of company stock valued at $1,390,490. Insiders own 3.70% of the company's stock.

Extreme Networks Stock Down 0.2 %

EXTR traded down $0.04 during trading on Tuesday, reaching $17.54. 998,682 shares of the stock traded hands, compared to its average volume of 1,790,527. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -18.08, a price-to-earnings-growth ratio of 3.81 and a beta of 1.76. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The stock's 50-day simple moving average is $15.79 and its two-hundred day simple moving average is $14.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Rosenblatt Securities restated a "buy" rating and issued a $21.00 target price on shares of Extreme Networks in a report on Wednesday, November 6th. StockNews.com cut Extreme Networks from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Craig Hallum lifted their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

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.