Franklin Resources Inc. Sells 14,014 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)
Franklin Resources Inc. decreased its position in Extreme Networks, Inc. (NASDAQ:EXTR – Get Rating) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,377 shares of the technology company’s stock after selling 14,014 shares during the quarter. Franklin Resources Inc.’s holdings in Extreme Networks were worth $298,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in EXTR. Capital Research Global Investors lifted its position in Extreme Networks by 24.0% during the 1st quarter. Capital Research Global Investors now owns 11,055,375 shares of the technology company’s stock worth $134,986,000 after buying an additional 2,141,000 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Extreme Networks during the 2nd quarter worth about $10,115,000. Vanguard Group Inc. lifted its position in Extreme Networks by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 12,066,504 shares of the technology company’s stock worth $147,332,000 after buying an additional 821,201 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Extreme Networks by 122.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 894,000 shares of the technology company’s stock worth $10,916,000 after buying an additional 493,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Extreme Networks by 67.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,067,952 shares of the technology company’s stock worth $13,040,000 after buying an additional 430,202 shares in the last quarter. Institutional investors own 85.00% of the company’s stock.
Insider Activity at Extreme Networks
In related news, CEO Edward Meyercord sold 2,130 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $17.00, for a total value of $36,210.00. Following the sale, the chief executive officer now directly owns 1,006,629 shares in the company, valued at approximately $17,112,693. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Edward Meyercord sold 2,130 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $17.00, for a total transaction of $36,210.00. Following the completion of the sale, the chief executive officer now directly owns 1,006,629 shares of the company’s stock, valued at approximately $17,112,693. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Joseph A. Vitalone sold 20,226 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $16.06, for a total value of $324,829.56. Following the sale, the executive now directly owns 41,298 shares of the company’s stock, valued at $663,245.88. The disclosure for this sale can be found here. Insiders have sold 37,858 shares of company stock worth $646,378 in the last ninety days. Company insiders own 3.16% of the company’s stock.
Extreme Networks Stock Performance
Shares of NASDAQ:EXTR opened at $20.36 on Friday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 61.70 and a beta of 2.09. The firm’s 50 day simple moving average is $17.05 and its 200 day simple moving average is $13.49. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.96 and a quick ratio of 0.86. Extreme Networks, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $21.03.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on EXTR. StockNews.com began coverage on shares of Extreme Networks in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. B. Riley upped their target price on shares of Extreme Networks from $18.00 to $23.00 in a research report on Friday, October 28th. Westpark Capital began coverage on shares of Extreme Networks in a research report on Tuesday, September 13th. They set a “buy” rating on the stock. Cowen upped their target price on shares of Extreme Networks to $18.00 in a research report on Tuesday, November 1st. Finally, Lake Street Capital upped their target price on shares of Extreme Networks from $15.00 to $19.00 in a research report on Friday, October 28th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $19.75.
Extreme Networks Profile
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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.
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