Algert Global LLC Lowers Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Algert Global LLC cut its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,586 shares of the technology company’s stock after selling 13,310 shares during the quarter. Algert Global LLC owned about 0.07% of Extreme Networks worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Andina Capital Management LLC lifted its stake in Extreme Networks by 3.8% in 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 in the last quarter. GAMMA Investing LLC lifted its stake in Extreme Networks by 109.5% in the 3rd 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 in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Extreme Networks by 2.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 1,541 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in 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 worth $880,000 after purchasing an additional 1,600 shares in the last quarter. Finally, KBC Group NV lifted its stake in 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 purchasing an additional 1,745 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. B. Riley increased their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum increased their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction 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 sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,175 shares of company stock valued at $1,927,079. Insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

EXTR stock opened at $16.42 on Friday. 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, Inc. has a 52 week low of $10.49 and a 52 week high of $18.77. The firm’s fifty day moving average is $15.40 and its 200 day moving average is $13.98. The firm has a market cap of $2.17 billion, a P/E ratio of -16.93, a P/E/G ratio of 3.59 and a beta of 1.77.

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.