Cadence Capital Management LLC lessened its stake in Extreme Networks, Inc (NASDAQ:EXTR) by 45.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,556 shares of the technology company’s stock after selling 94,879 shares during the period. Cadence Capital Management LLC owned 0.10% of Extreme Networks worth $1,350,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in EXTR. Cramer Rosenthal Mcglynn LLC bought a new position in Extreme Networks in the 2nd quarter valued at about $14,029,000. Goldman Sachs Group Inc. grew its position in Extreme Networks by 474.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,593,826 shares of the technology company’s stock valued at $14,695,000 after buying an additional 1,316,604 shares in the last quarter. Ratan Capital Management LP bought a new position in Extreme Networks in the 2nd quarter valued at about $11,106,000. BNP Paribas Arbitrage SA grew its position in Extreme Networks by 56,018.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 856,934 shares of the technology company’s stock valued at $7,901,000 after buying an additional 855,407 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Extreme Networks by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,040,988 shares of the technology company’s stock valued at $74,138,000 after buying an additional 830,103 shares in the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.
Extreme Networks, Inc (NASDAQ EXTR) opened at $12.91 on Friday. Extreme Networks, Inc has a 12-month low of $4.25 and a 12-month high of $14.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31. The firm has a market cap of $1,464.25, a PE ratio of 30.02, a PEG ratio of 1.26 and a beta of 1.14.
In other news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the transaction, the director now owns 99,523 shares in the company, valued at approximately $1,374,412.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles Carinalli sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $12.91, for a total transaction of $258,200.00. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
EXTR has been the subject of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. BidaskClub upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, August 18th. ValuEngine upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Craig Hallum restated a “buy” rating and set a $17.00 price objective (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $13.25.
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Extreme Networks Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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