Victory Capital Management Inc. Raises Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Victory Capital Management Inc. boosted its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 318.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,466,031 shares of the technology company's stock after purchasing an additional 3,399,288 shares during the period. Victory Capital Management Inc. owned 3.38% of Extreme Networks worth $67,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Extreme Networks in the first quarter valued at about $27,000. GAMMA Investing LLC boosted 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 worth $30,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company's stock worth $67,000 after acquiring an additional 4,709 shares in the last quarter. Gladius Capital Management LP bought a new position in Extreme Networks in the second quarter worth approximately $90,000. Finally, Hennessy Advisors Inc. bought a new position in Extreme Networks in the second quarter worth approximately $148,000. Institutional investors and hedge funds own 91.05% of the company's stock.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,754,637.56. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Raj Khanna sold 10,000 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares of the company's stock, valued at $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Stock Down 2.4 %

EXTR stock traded down $0.39 during midday trading on Friday, hitting $15.71. The company's stock had a trading volume of 335,113 shares, compared to its average volume of 1,846,432. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $18.77. 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 firm's 50-day moving average is $15.06 and its 200-day moving average is $13.63.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. 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. Rosenblatt Securities reissued a "buy" rating and issued a $21.00 target price 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 research report on Saturday, November 9th. 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. Finally, Craig Hallum lifted their price target on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. 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, Extreme Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Extreme Networks 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.