Amalgamated Bank Reduces Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Amalgamated Bank lowered its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 3.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 38,090 shares of the technology company’s stock after selling 1,371 shares during the period. Amalgamated Bank’s holdings in Extreme Networks were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of EXTR. Vanguard Group Inc. boosted its position in Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after buying an additional 2,191,181 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Extreme Networks in the second quarter valued at approximately $25,409,000. Rubric Capital Management LP boosted its position in Extreme Networks by 52.3% in the second 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 during the last quarter. Victory Capital Management Inc. boosted its position in Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after buying an additional 841,395 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Extreme Networks by 265.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after buying an additional 531,500 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 3.0 %

Shares of EXTR stock opened at $15.61 on Friday. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -16.09, a PEG ratio of 3.63 and a beta of 1.77. The stock has a 50 day simple moving average of $15.14 and a 200-day simple moving average of $13.67. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $18.77.

Analyst Ratings Changes

A number of equities research analysts recently commented on EXTR shares. B. Riley upped their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum boosted their price target on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Sunday. 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owns 228,733 shares of the company’s stock, valued at $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,175 shares of company stock worth $1,763,279. 3.70% of the stock is owned by corporate insiders.

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.