PDT Partners LLC Reduces Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

PDT Partners LLC cut its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 47.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,335 shares of the technology company’s stock after selling 127,440 shares during the quarter. PDT Partners LLC owned 0.11% of Extreme Networks worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in EXTR. Lisanti Capital Growth LLC boosted its position in Extreme Networks by 61.0% in the 3rd 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 last quarter. Harbor Capital Advisors Inc. grew its stake in Extreme Networks by 297.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after purchasing an additional 60,131 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Extreme Networks during the 3rd quarter valued at approximately $651,000. Victory Capital Management Inc. increased its holdings in Extreme Networks by 373.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after purchasing an additional 841,395 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Extreme Networks by 491.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock valued at $4,488,000 after purchasing an additional 277,196 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,175 shares of company stock worth $1,927,079 in the last three months. 3.70% of the stock is owned by insiders.

Extreme Networks Stock Up 1.1 %

Shares of Extreme Networks stock opened at $16.60 on Friday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -17.11, a PEG ratio of 3.58 and a beta of 1.77. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The business’s 50 day simple moving average is $15.42 and its 200-day simple moving average is $14.05.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reissued 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 lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. 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 research note on Thursday, October 31st. B. Riley increased their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock 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.