ABS Direct Equity Fund LLC Sells 65,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

ABS Direct Equity Fund LLC decreased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 43.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,000 shares of the technology company’s stock after selling 65,000 shares during the period. Extreme Networks comprises 1.4% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 26th largest holding. ABS Direct Equity Fund LLC owned about 0.06% of Extreme Networks worth $1,278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Extreme Networks during the 3rd quarter valued at $26,000. GAMMA Investing LLC increased its position in Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares during the last quarter. KBC Group NV lifted its holdings in Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after acquiring an additional 1,745 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Extreme Networks during the 2nd quarter valued at about $90,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

EXTR opened at $17.58 on Tuesday. The company has a 50 day simple moving average of $15.73 and a two-hundred day simple moving average of $14.33. 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 firm has a market cap of $2.32 billion, a P/E ratio of -18.12, a PEG ratio of 3.81 and a beta of 1.76. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $18.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Craig Hallum boosted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley upped their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company 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, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,667,734.88. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 91,450 shares of company stock worth $1,390,490. 3.70% of the stock is owned by corporate insiders.

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.