Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 10.6% during the third quarter, HoldingsChannel.com reports. The fund owned 543,420 shares of the technology company’s stock after selling 64,750 shares during the quarter. Franklin Resources Inc.’s holdings in Extreme Networks were worth $8,113,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after acquiring an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Extreme Networks in the 2nd quarter valued at about $25,409,000. Rubric Capital Management LP lifted its holdings in shares of Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares during the period. Portolan Capital Management LLC boosted its position in shares of Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after acquiring an additional 700,724 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Extreme Networks by 265.8% during the 2nd 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 period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of the sale, the director now owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,450 shares of company stock worth $1,390,490 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Stock Performance

Extreme Networks stock opened at $17.74 on Monday. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $19.24. 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 capitalization of $2.34 billion, a price-to-earnings ratio of -18.29, a price-to-earnings-growth ratio of 3.87 and a beta of 1.76. The firm’s fifty day moving average price is $16.25 and its 200 day moving average price is $14.75.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of research reports. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. Craig Hallum upped their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.