Clearline Capital LP Decreases Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Clearline Capital LP reduced its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 56.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 266,571 shares of the technology company’s stock after selling 346,789 shares during the period. Clearline Capital LP’s holdings in Extreme Networks were worth $4,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new position in shares of Extreme Networks in the 3rd quarter valued at $1,758,000. Verition Fund Management LLC acquired a new position in Extreme Networks in the third quarter valued at $2,113,000. Millrace Asset Group Inc. acquired a new position in Extreme Networks in the third quarter valued at $829,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Extreme Networks during the third quarter worth about $651,000. Finally, Raymond James Trust N.A. increased its position in shares of Extreme Networks by 35.9% during the third quarter. Raymond James Trust N.A. now owns 34,100 shares of the technology company’s stock worth $513,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Up 1.1 %

EXTR stock opened at $16.60 on Monday. The stock has a market capitalization of $2.19 billion, a PE ratio of -17.11, a price-to-earnings-growth ratio of 3.62 and a beta of 1.77. The company has a fifty day moving average of $15.42 and a 200-day moving average of $14.07. 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 one year low of $10.49 and a one year high of $18.77.

Insider Activity at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the transaction, the director now directly owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred 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 completion of the sale, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,175 shares of company stock worth $1,927,079 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EXTR shares. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research 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 research report on Thursday, August 8th. B. Riley lifted their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Craig Hallum upped their target price 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average target price 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.