Putnam Investments LLC Sells 54,828 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Putnam Investments LLC cut its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR – Get Rating) by 26.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,548 shares of the technology company’s stock after selling 54,828 shares during the quarter. Putnam Investments LLC’s holdings in Extreme Networks were worth $1,955,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Extreme Networks during the 3rd quarter worth approximately $31,000. Quadrant Capital Group LLC grew its position in Extreme Networks by 29.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,429 shares of the technology company’s stock worth $32,000 after acquiring an additional 558 shares during the last quarter. Captrust Financial Advisors grew its position in Extreme Networks by 389.4% during the 1st quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock worth $54,000 after acquiring an additional 3,551 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Extreme Networks during the 2nd quarter worth approximately $58,000. Finally, Lazard Asset Management LLC grew its position in Extreme Networks by 3,060.3% during the 2nd quarter. Lazard Asset Management LLC now owns 7,332 shares of the technology company’s stock worth $65,000 after acquiring an additional 7,100 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXTR. Rosenblatt Securities restated a “buy” rating and set a $23.00 price target on shares of Extreme Networks in a research report on Tuesday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $23.50 price objective on shares of Extreme Networks in a report on Monday, March 6th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks currently has an average rating of “Buy” and a consensus target price of $21.42.

Extreme Networks Trading Down 0.3 %

NASDAQ EXTR opened at $17.57 on Monday. Extreme Networks, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $21.03. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.82 and a current ratio of 0.94. The stock has a 50 day simple moving average of $18.67 and a two-hundred day simple moving average of $17.20. The stock has a market cap of $2.27 billion, a P/E ratio of 48.81 and a beta of 1.97.

Insider Activity

In other news, Director Ingrid Burton sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $20.35, for a total value of $183,150.00. Following the completion of the transaction, the director now owns 63,243 shares in the company, valued at approximately $1,286,995.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ingrid Burton sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $20.35, for a total value of $183,150.00. Following the completion of the transaction, the director now owns 63,243 shares in the company, valued at approximately $1,286,995.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the director now owns 237,267 shares of the company’s stock, valued at approximately $4,633,824.51. The disclosure for this sale can be found here. Insiders sold a total of 38,854 shares of company stock worth $758,456 in the last quarter. 3.16% of the stock is owned by company insiders.

About Extreme Networks

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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.