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

Victory Capital Management Inc. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 318.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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. owned about 3.38% of Extreme Networks worth $67,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Extreme Networks by 16.9% in the 1st 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. Rubric Capital Management LP boosted its holdings in shares of 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 acquiring an additional 1,804,744 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Extreme Networks in the second quarter valued at about $25,409,000. Bank of New York Mellon Corp increased its stake in shares of Extreme Networks by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 3,572 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Extreme Networks by 2.6% during the second quarter. Public Sector Pension Investment Board now owns 859,926 shares of the technology company’s stock worth $11,566,000 after purchasing an additional 22,063 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXTR has been the topic of several recent analyst reports. B. Riley boosted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a report on Thursday, August 8th. 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. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Craig Hallum raised their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity at Extreme Networks

In other news, Director Raj Khanna sold 10,000 shares of the 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 directly owns 228,733 shares in the company, valued at $3,780,956.49. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,175 shares of company stock valued at $1,763,279. Insiders own 3.70% of the company’s stock.

Extreme Networks Trading Down 3.3 %

Shares of EXTR stock opened at $16.10 on Friday. The stock 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. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The business has a fifty day simple moving average of $15.06 and a 200-day simple moving average of $13.63.

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.