Brooktree Capital Management Purchases 2,569 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Brooktree Capital Management grew its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 179,448 shares of the technology company’s stock after purchasing an additional 2,569 shares during the period. Extreme Networks accounts for about 2.2% of Brooktree Capital Management’s portfolio, making the stock its 14th largest holding. Brooktree Capital Management’s holdings in Extreme Networks were worth $2,697,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EXTR. Andina Capital Management LLC grew its holdings in Extreme Networks by 3.8% in the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock valued at $264,000 after buying an additional 719 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,035 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after purchasing an additional 1,600 shares during the period. ProShare Advisors LLC raised its position in shares of Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock valued at $294,000 after buying an additional 1,741 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Price Performance

Shares of EXTR stock opened at $16.65 on Thursday. The business has a fifty day simple moving average of $15.06 and a 200 day simple moving average of $13.63. The company has a market cap of $2.20 billion, a P/E ratio of -17.16, a P/E/G ratio of 3.61 and a beta of 1.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,175 shares of company stock valued at $1,763,279. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EXTR has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research note on Wednesday, November 6th. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley raised their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.