Extreme Networks, Inc. (NASDAQ:EXTR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 318.7% during the third quarter, Holdings Channel reports. The fund owned 4,466,031 shares of the technology company’s stock after acquiring an additional 3,399,288 shares during the quarter. Victory Capital Management Inc.’s holdings in Extreme Networks were worth $67,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Extreme Networks by 297.1% during the second quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after purchasing an additional 60,131 shares during the last quarter. M&G Plc acquired a new stake in Extreme Networks in the 1st quarter worth about $4,175,000. Lisanti Capital Growth LLC grew its holdings in Extreme Networks by 61.0% in the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after buying an additional 74,080 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Extreme Networks by 491.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock valued at $4,488,000 after acquiring an additional 277,196 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of Extreme Networks by 367.6% during the 1st quarter. Edgestream Partners L.P. now owns 95,177 shares of the technology company’s stock worth $1,098,000 after acquiring an additional 74,824 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Stock Down 3.3 %

Shares of NASDAQ EXTR opened at $16.10 on Friday. The stock has a fifty day moving average price of $15.06 and a 200 day moving average price of $13.63. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77. The company has a market cap of $2.13 billion, a P/E ratio of -16.74, a P/E/G ratio of 3.61 and a beta of 1.77.

Insider Activity

In other news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This represents a 4.19 % 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 this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction 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 sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,363,575.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,175 shares of company stock worth $1,763,279. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EXTR shares. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Rosenblatt Securities reissued a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment 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, Extreme Networks has an average rating of “Moderate Buy” and an average target price of $19.00.

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.