Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP reduced its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 25.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,931,913 shares of the technology company’s stock after selling 1,322,831 shares during the period. Extreme Networks makes up 1.0% of Rubric Capital Management LP’s investment portfolio, making the stock its 27th largest position. Rubric Capital Management LP’s holdings in Extreme Networks were worth $59,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXTR. Vanguard Group Inc. lifted its stake in Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after buying an additional 2,191,181 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Extreme Networks in the 1st quarter valued at $27,000. CANADA LIFE ASSURANCE Co boosted its stake in Extreme Networks by 5.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 147,269 shares of the technology company’s stock worth $1,697,000 after purchasing an additional 7,326 shares during the period. Price T Rowe Associates Inc. MD grew its position in Extreme Networks by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 692,617 shares of the technology company’s stock worth $7,994,000 after purchasing an additional 3,869 shares during the last quarter. Finally, First Bank & Trust acquired a new position in Extreme Networks in the second quarter valued at $156,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Extreme Networks stock opened at $16.94 on Wednesday. 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. The company has a market cap of $2.24 billion, a P/E ratio of -17.46, a price-to-earnings-growth ratio of 3.59 and a beta of 1.77. The business has a fifty day moving average of $15.35 and a two-hundred day moving average of $13.95.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,754,637.56. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the sale, the director now owns 371,793 shares in the company, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EXTR shares. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, B. Riley boosted their price objective on shares of Extreme Networks from $18.00 to $21.00 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Company 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.