Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 10.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 543,420 shares of the technology company’s stock after selling 64,750 shares during the quarter. Franklin Resources Inc. owned approximately 0.41% of Extreme Networks worth $8,113,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake 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 in the last quarter. Raymond James Trust N.A. boosted its position in shares of Extreme Networks by 27.0% during the 2nd quarter. Raymond James Trust N.A. now owns 25,100 shares of the technology company’s stock worth $338,000 after acquiring an additional 5,331 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Extreme Networks by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 3,572 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Extreme Networks by 1,635.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in Extreme Networks in the second quarter valued at approximately $238,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Shares of EXTR opened at $17.74 on Monday. The firm has a 50-day simple moving average of $16.25 and a 200-day simple moving average of $14.75. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -18.29, a price-to-earnings-growth ratio of 3.87 and a beta of 1.76. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24.

Analyst Ratings Changes

A number of analysts have weighed in on EXTR shares. B. Riley raised their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum lifted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. The trade was a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,450 shares of company stock valued at $1,390,490. Company insiders own 3.70% of the company’s stock.

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.