Thrivent Financial for Lutherans Sells 5,524 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Thrivent Financial for Lutherans reduced its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 5.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 102,352 shares of the technology company’s stock after selling 5,524 shares during the period. Thrivent Financial for Lutherans’ holdings in Extreme Networks were worth $1,538,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after purchasing an additional 2,191,181 shares in the last quarter. Rubric Capital Management LP grew its stake in Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after buying an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Extreme Networks by 318.7% during 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 period. William Blair Investment Management LLC bought a new stake in Extreme Networks during the 2nd quarter valued at $25,409,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Extreme Networks by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 3,572 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,175 shares of company stock worth $1,927,079 over the last three months. 3.70% of the stock is owned by insiders.

Extreme Networks Stock Performance

Shares of EXTR opened at $16.60 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The stock has a 50-day moving average price of $15.42 and a 200-day moving average price of $14.03. The company has a market cap of $2.19 billion, a PE ratio of -17.11, a price-to-earnings-growth ratio of 3.58 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.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXTR shares. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, Craig Hallum upped their target price 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks 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.