Public Sector Pension Investment Board Sells 257,400 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Public Sector Pension Investment Board reduced its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 29.9% in the third quarter, HoldingsChannel.com reports. The firm owned 602,526 shares of the technology company’s stock after selling 257,400 shares during the period. Public Sector Pension Investment Board’s holdings in Extreme Networks were worth $9,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXTR. Victory Capital Management Inc. boosted its position in shares of Extreme Networks by 318.7% during 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 buying an additional 3,399,288 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Extreme Networks by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after acquiring an additional 2,191,181 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Extreme Networks in the 2nd quarter worth $25,409,000. Rubric Capital Management LP raised its holdings in shares of Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after purchasing an additional 1,804,744 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Extreme Networks by 265.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after purchasing an additional 531,500 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the sale, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s 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 of the company’s stock, valued at approximately $21,754,637.56. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,175 shares of company stock valued at $1,927,079 in the last 90 days. Insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

Extreme Networks stock opened at $16.60 on Friday. The business’s 50 day simple moving average is $15.42 and its 200 day simple moving average is $14.03. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $18.77. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -17.11, a PEG ratio of 3.58 and a beta of 1.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. B. Riley upped their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.