Kovack Advisors Inc. Sells 2,150 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Kovack Advisors Inc. reduced its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,190 shares of the technology company’s stock after selling 2,150 shares during the period. Kovack Advisors Inc.’s holdings in Extreme Networks were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after acquiring an additional 3,399,288 shares in the last quarter. Versor Investments LP bought a new stake in shares of Extreme Networks during the 3rd quarter valued at about $286,000. Lisanti Capital Growth LLC increased its position in shares of Extreme Networks by 61.0% during the third quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after buying an additional 74,080 shares during the period. Meritage Portfolio Management increased its position in shares of Extreme Networks by 11.7% during the third quarter. Meritage Portfolio Management now owns 59,163 shares of the technology company’s stock valued at $889,000 after buying an additional 6,182 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Extreme Networks by 33.0% in the third quarter. Harbor Capital Advisors Inc. now owns 106,924 shares of the technology company’s stock worth $1,607,000 after buying an additional 26,553 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Down 3.0 %

Extreme Networks stock opened at $15.61 on Friday. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $18.77. The stock has a fifty day moving average of $15.10 and a 200 day moving average of $13.65. 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 stock has a market cap of $2.06 billion, a PE ratio of -16.09, a price-to-earnings-growth ratio of 3.63 and a beta of 1.77.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated 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 sold a total of 117,175 shares of company stock worth $1,763,279 in the last three months. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EXTR shares. B. Riley upped their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks 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.