Franklin Resources Inc. Sells 64,750 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Franklin Resources Inc. reduced its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 543,420 shares of the technology company's stock after selling 64,750 shares during the quarter. Franklin Resources Inc. owned 0.41% of Extreme Networks worth $8,113,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Andina Capital Management LLC lifted its holdings in Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company's stock worth $307,000 after buying an additional 795 shares during the period. GAMMA Investing LLC lifted its stake 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 during the period. OneDigital Investment Advisors LLC boosted its holdings in Extreme Networks by 2.2% in the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company's stock valued at $1,065,000 after acquiring an additional 1,541 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Extreme Networks by 2.5% during the 2nd 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, Quarry LP bought a new position in Extreme Networks in the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insider Activity at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at approximately $21,363,575.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,450 shares of company stock valued at $1,390,490. 3.70% of the stock is owned by corporate insiders.

Extreme Networks Stock Down 0.6 %

Shares of NASDAQ EXTR traded down $0.10 during midday trading on Monday, hitting $17.64. The stock had a trading volume of 430,011 shares, compared to its average volume of 1,759,579. The business's 50 day moving average is $16.30 and its 200-day moving average is $14.79. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $19.24. 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 company has a market cap of $2.33 billion, a P/E ratio of -18.19, a PEG ratio of 3.87 and a beta of 1.76.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EXTR. Rosenblatt Securities reaffirmed 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 raised Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday. B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Extreme Networks presently has an average rating of "Moderate Buy" and an average target price of $19.00.

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.