PDT Partners LLC Sells 127,440 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

PDT Partners LLC cut its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 47.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,335 shares of the technology company's stock after selling 127,440 shares during the period. PDT Partners LLC owned 0.11% of Extreme Networks worth $2,139,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock worth $30,000 after purchasing an additional 1,035 shares during the period. KBC Group NV increased its stake in Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock worth $75,000 after acquiring an additional 1,745 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Extreme Networks by 1,635.1% during the 2nd 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 during the period. Gladius Capital Management LP acquired a new stake in shares of Extreme Networks during the 2nd quarter valued at $90,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks during the 2nd quarter valued at $148,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EXTR shares. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a "buy" rating and set a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. StockNews.com downgraded Extreme Networks from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.00.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at $21,363,575.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the sale, the director now directly owns 366,793 shares of the company's stock, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,175 shares of company stock worth $1,927,079. Company insiders own 3.70% of the company's stock.

Extreme Networks Trading Up 1.1 %

Shares of NASDAQ:EXTR traded up $0.18 during midday trading on Friday, reaching $16.60. The company's stock had a trading volume of 444,667 shares, compared to its average volume of 1,164,424. The firm has a 50 day moving average price of $15.42 and a two-hundred day moving average price of $14.07. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -17.11, a PEG ratio of 3.62 and a beta of 1.77. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

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.