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

Rubric Capital Management LP decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 25.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,931,913 shares of the technology company’s stock after selling 1,322,831 shares during the quarter. Extreme Networks makes up 1.0% of Rubric Capital Management LP’s holdings, making the stock its 27th biggest position. Rubric Capital Management LP owned about 2.98% of Extreme Networks worth $59,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of Extreme Networks during the first quarter worth approximately $27,000. GAMMA Investing LLC boosted its stake in 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 during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after buying an additional 4,709 shares during the last quarter. KBC Group NV lifted its stake 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 worth $75,000 after buying an additional 1,745 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new position in Extreme Networks during the second quarter worth about $90,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EXTR. Needham & Company LLC restated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. B. Riley lifted their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Price Performance

Shares of EXTR opened at $16.94 on Wednesday. The firm has a 50-day simple moving average of $15.35 and a two-hundred day simple moving average of $13.95. The stock has a market cap of $2.24 billion, a PE ratio of -17.46, a P/E/G ratio of 3.59 and a beta of 1.77. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $18.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction that occurred on 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 owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,175 shares of company stock valued at $1,927,079 over the last quarter. 3.70% of the stock is owned by company insiders.

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.