Quarry LP Acquires Shares of 1,707 Extreme Networks, Inc. (NASDAQ:EXTR)

Quarry LP bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,707 shares of the technology company’s stock, valued at approximately $26,000.

A number of other institutional investors also recently modified their holdings of EXTR. Rubric Capital Management LP raised 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 worth $70,676,000 after purchasing an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after buying an additional 3,399,288 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Extreme Networks in the second quarter valued at approximately $25,409,000. Charles Schwab Investment Management Inc. grew its position in Extreme Networks by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after buying an additional 8,169 shares in the last quarter. Finally, Portolan Capital Management LLC increased its stake in Extreme Networks by 194.6% during the 3rd 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 period. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Extreme Networks stock opened at $18.18 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The stock has a market cap of $2.40 billion, a PE ratio of -18.74, a P/E/G ratio of 3.81 and a beta of 1.76. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77. The business’s 50-day moving average price is $15.91 and its two-hundred day moving average price is $14.42.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EXTR shares. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Craig Hallum upped their price objective 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. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a report on Wednesday, November 6th. Finally, B. Riley upped 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Insider Activity

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 in the company, valued at $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,450 shares of company stock worth $1,390,490. Corporate insiders own 3.70% of the company’s stock.

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.