Fmr LLC Sells 108,337 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

FMR LLC cut its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 23.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,321 shares of the technology company's stock after selling 108,337 shares during the quarter. FMR LLC owned 0.27% of Extreme Networks worth $5,295,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EXTR. Dynamic Technology Lab Private Ltd bought a new stake in Extreme Networks during the 3rd quarter worth approximately $651,000. Lisanti Capital Growth LLC grew its stake in Extreme Networks by 61.0% in the third quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company's stock valued at $2,938,000 after purchasing an additional 74,080 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Extreme Networks by 373.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company's stock worth $14,348,000 after purchasing an additional 841,395 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Extreme Networks by 491.1% during the second 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, Texas Permanent School Fund Corp raised its position in Extreme Networks by 38.2% during the second quarter. Texas Permanent School Fund Corp now owns 155,699 shares of the technology company's stock worth $2,094,000 after acquiring an additional 43,036 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles Carinalli sold 5,000 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raj Khanna sold 10,000 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now directly owns 228,733 shares of the company's stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,450 shares of company stock worth $1,390,490 over the last ninety days. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

EXTR has been the topic of several research reports. B. Riley upped their target price on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Craig Hallum boosted their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com downgraded Extreme Networks from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Finally, 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Extreme Networks Trading Down 0.1 %

Shares of EXTR traded down $0.01 during trading hours on Friday, hitting $18.17. The company's stock had a trading volume of 589,298 shares, compared to its average volume of 1,776,094. The business has a 50 day simple moving average of $15.91 and a two-hundred day simple moving average of $14.42. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $18.77.

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.