Versor Investments LP Takes $286,000 Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Versor Investments LP bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,030 shares of the technology company’s stock, valued at approximately $286,000.

Other hedge funds have also modified their holdings of the company. Andina Capital Management LLC increased its position in Extreme Networks by 3.8% during the second 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 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 last quarter. Louisiana State Employees Retirement System increased its position in Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after purchasing an additional 1,600 shares during the last quarter. ProShare Advisors LLC increased its position in Extreme Networks by 7.3% during the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after purchasing an additional 1,741 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Extreme Networks by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after purchasing an additional 1,749 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, 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 sale, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EXTR shares. Rosenblatt Securities restated a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday, November 6th. Craig Hallum increased their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. B. Riley increased their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $15.61 on Friday. The firm’s fifty day simple moving average is $15.10 and its 200-day simple moving average is $13.65. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.09, a PEG ratio of 3.63 and a beta of 1.77. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $18.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

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.