Cipher Capital LP raised its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 53.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,982 shares of the technology company’s stock after buying an additional 119,504 shares during the quarter. Cipher Capital LP owned approximately 0.30% of Extreme Networks worth $4,066,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of EXTR. PNC Financial Services Group Inc. acquired a new position in shares of Extreme Networks in the 2nd quarter valued at about $101,000. BlueCrest Capital Management Ltd acquired a new position in shares of Extreme Networks in the 2nd quarter valued at about $116,000. SG Americas Securities LLC acquired a new position in shares of Extreme Networks in the 3rd quarter valued at about $116,000. Ameritas Investment Partners Inc. lifted its stake in shares of Extreme Networks by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after purchasing an additional 1,565 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Extreme Networks by 10.9% in the 2nd quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors own 77.65% of the company’s stock.
Extreme Networks, Inc. (NASDAQ:EXTR) traded down $0.02 during trading on Friday, reaching $12.81. The company had a trading volume of 3,062,876 shares, compared to its average volume of 1,546,964. The firm has a market cap of $1,460.00, a price-to-earnings ratio of 27.60, a PEG ratio of 1.25 and a beta of 1.12. The company has a quick ratio of 1.09, a current ratio of 1.31 and a debt-to-equity ratio of 1.11. Extreme Networks, Inc. has a 12-month low of $4.17 and a 12-month high of $13.20.
In related news, insider Edward Meyercord sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the transaction, the insider now directly owns 471,653 shares of the company’s stock, valued at approximately $4,961,789.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen M. Holmgren purchased 5,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the transaction, the director now directly owns 36,662 shares in the company, valued at approximately $421,246.38. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.
Several research firms have recently weighed in on EXTR. Needham & Company LLC reaffirmed a “buy” rating on shares of Extreme Networks in a research note on Friday, November 10th. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, November 10th. Craig Hallum reaffirmed a “buy” rating and issued a $17.00 price objective (up from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th. ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $13.25.
About Extreme Networks
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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