BlackRock Inc. Trims Position in Extreme Networks, Inc. (NASDAQ:EXTR)

BlackRock Inc. reduced its holdings in Extreme Networks, Inc. (NASDAQ:EXTR – Get Rating) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,233,647 shares of the technology company’s stock after selling 12,805 shares during the period. BlackRock Inc. owned about 0.13% of Extreme Networks worth $225,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Altshuler Shaham Ltd acquired a new position in Extreme Networks during the third quarter valued at $31,000. Quadrant Capital Group LLC raised its stake in shares of Extreme Networks by 29.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,429 shares of the technology company’s stock valued at $32,000 after buying an additional 558 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Extreme Networks by 389.4% in the 1st quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock valued at $54,000 after buying an additional 3,551 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Extreme Networks in the second quarter worth about $58,000. Finally, Lazard Asset Management LLC grew its holdings in Extreme Networks by 3,060.3% during the second 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 period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Extreme Networks Stock Down 2.8 %

Extreme Networks stock opened at $17.08 on Tuesday. Extreme Networks, Inc. has a 12 month low of $8.49 and a 12 month high of $21.03. The stock has a market capitalization of $2.21 billion, a PE ratio of 47.45 and a beta of 1.97. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.94 and a quick ratio of 0.82. The business has a 50 day simple moving average of $18.64 and a 200-day simple moving average of $17.22.

Analyst Ratings Changes

EXTR has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $23.50 price target on shares of Extreme Networks in a report on Monday, March 6th. Rosenblatt Securities reissued a “buy” rating and set a $23.00 price target on shares of Extreme Networks in a report on Tuesday, February 21st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $21.42.

Insider Buying and Selling

In other Extreme Networks news, Director Ingrid Burton sold 9,000 shares of the stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $20.35, for a total transaction of $183,150.00. Following the transaction, the director now directly owns 63,243 shares of the company’s stock, valued at $1,286,995.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Extreme Networks news, Director Ingrid Burton sold 9,000 shares of the stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $20.35, for a total transaction of $183,150.00. Following the completion of the transaction, the director now owns 63,243 shares of the company’s stock, valued at $1,286,995.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Joseph A. Vitalone sold 19,854 shares of Extreme Networks stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $19.14, for a total value of $380,005.56. Following the completion of the sale, the executive now directly owns 45,090 shares in the company, valued at $863,022.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,854 shares of company stock valued at $758,456. 3.16% of the stock is owned by corporate insiders.

Extreme Networks Profile

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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.