Geode Capital Management LLC Sells 312,825 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Geode Capital Management LLC lessened its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 9.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,018,966 shares of the technology company's stock after selling 312,825 shares during the quarter. Geode Capital Management LLC owned about 2.28% of Extreme Networks worth $45,384,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased 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 valued at $67,124,000 after acquiring an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Extreme Networks in the second quarter valued at approximately $25,409,000. Rubric Capital Management LP raised its holdings in Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company's stock worth $70,676,000 after purchasing an additional 1,804,744 shares during the period. Portolan Capital Management LLC boosted its position in shares of Extreme Networks by 194.6% during the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after purchasing an additional 700,724 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings 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 valued at $9,839,000 after buying an additional 531,500 shares during the period. Institutional investors and hedge funds own 91.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Craig Hallum boosted their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and set a $21.00 target price on shares of Extreme Networks in a report on Wednesday, November 6th. Finally, B. Riley upped their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Extreme Networks currently has an average rating of "Moderate Buy" and an average target price of $19.00.

Extreme Networks Stock Up 1.0 %

NASDAQ:EXTR traded up $0.18 during trading hours on Tuesday, reaching $17.82. 181,556 shares of the stock were exchanged, compared to its average volume of 1,753,216. The stock has a market cap of $2.35 billion, a PE ratio of -18.37, a PEG ratio of 3.87 and a beta of 1.76. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $19.24. The firm has a 50 day moving average of $16.30 and a 200 day moving average of $14.79. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

Insider Transactions at Extreme Networks

In other news, Director Raj Khanna sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles Carinalli sold 5,000 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the transaction, the director now directly owns 371,793 shares of the company's stock, valued at $5,970,995.58. This represents a 1.33 % 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 valued at $1,390,490 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

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.