ABS Direct Equity Fund LLC Sells 38,477 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

ABS Direct Equity Fund LLC lowered its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 45.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,523 shares of the technology company’s stock after selling 38,477 shares during the quarter. ABS Direct Equity Fund LLC’s holdings in Extreme Networks were worth $779,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EXTR. Pacer Advisors Inc. lifted its position in shares of Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after buying an additional 741 shares during the last quarter. Andina Capital Management LLC raised its stake in Extreme Networks by 4.1% during the third quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after acquiring an additional 795 shares in the last quarter. GAMMA Investing LLC raised its stake in Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Extreme Networks by 2.2% in the third quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Extreme Networks in the 3rd quarter valued at approximately $26,000. 91.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EXTR. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. 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 report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. Finally, B. Riley boosted their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling at Extreme Networks

In related news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the transaction, the director now owns 366,793 shares in the company, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was 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 of the company’s stock, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,725 shares of company stock worth $863,546. Insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

NASDAQ EXTR opened at $16.25 on Tuesday. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $19.24. The stock has a fifty day simple moving average of $17.14 and a 200 day simple moving average of $15.56.

About Extreme Networks

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.