Verition Fund Management LLC Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Verition Fund Management LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 140,610 shares of the technology company's stock, valued at approximately $2,113,000. Verition Fund Management LLC owned about 0.11% of Extreme Networks as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Andina Capital Management LLC increased its position in shares of Extreme Networks by 3.8% during the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company's stock worth $264,000 after purchasing an additional 719 shares during the last quarter. GAMMA Investing LLC increased its position 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 valued at $30,000 after acquiring an additional 1,035 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Extreme Networks by 2.2% during 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 during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Extreme Networks by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company's stock valued at $880,000 after acquiring an additional 1,600 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Extreme Networks by 54.3% in 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 last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the transaction, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,450 shares of company stock valued at $1,390,490. 3.70% of the stock is currently owned by corporate insiders.

Extreme Networks Stock Down 1.2 %

NASDAQ EXTR traded down $0.22 during trading hours on Friday, hitting $17.49. 729,342 shares of the company were exchanged, compared to its average volume of 1,797,820. 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 firm has a market cap of $2.31 billion, a price-to-earnings ratio of -18.03, a PEG ratio of 3.76 and a beta of 1.76. The company has a 50 day moving average of $15.68 and a two-hundred day moving average of $14.24. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $18.77.

Analysts Set New Price Targets

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

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.