ABS Direct Equity Fund LLC Has $779,000 Position in Extreme Networks, Inc. (NASDAQ:EXTR)

ABS Direct Equity Fund LLC cut its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 45.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXTR. Squarepoint Ops LLC bought a new position in shares of Extreme Networks in the second quarter valued at approximately $1,745,000. The Manufacturers Life Insurance Company boosted its stake in Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after purchasing an additional 1,749 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Extreme Networks by 75.3% during the second quarter. Mackenzie Financial Corp now owns 26,888 shares of the technology company’s stock worth $362,000 after purchasing an additional 11,549 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Extreme Networks by 491.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock valued at $4,488,000 after buying an additional 277,196 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Extreme Networks by 61.1% in the second quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company’s stock valued at $9,270,000 after buying an additional 261,322 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’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 sale, the director now directly owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,725 shares of company stock valued at $863,546 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Extreme Networks Trading Down 4.4 %

Shares of NASDAQ EXTR opened at $16.25 on Tuesday. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The business has a 50-day moving average of $17.14 and a 200-day moving average of $15.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday, November 6th. 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 boosted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, B. Riley raised their price target 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

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.