Kovack Advisors Inc. Has $334,000 Stock Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Kovack Advisors Inc. lessened its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,190 shares of the technology company’s stock after selling 2,150 shares during the quarter. Kovack Advisors Inc.’s holdings in Extreme Networks were worth $334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its stake in Extreme Networks by 297.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after buying an additional 60,131 shares during the last quarter. Lisanti Capital Growth LLC boosted its position in Extreme Networks by 61.0% during the third quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock worth $2,938,000 after purchasing an additional 74,080 shares during the period. M&G Plc purchased a new position in Extreme Networks in the 1st quarter valued at approximately $4,175,000. Victory Capital Management Inc. grew its position in shares of Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after purchasing an additional 841,395 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Extreme Networks by 491.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock valued at $4,488,000 after purchasing an additional 277,196 shares during the period. 91.05% of the stock is owned by institutional investors.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $15.61 on Friday. The company’s fifty day moving average price is $15.10 and its 200-day moving average price is $13.65. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.09, a PEG ratio of 3.63 and a beta of 1.77. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $18.77.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,175 shares of company stock worth $1,763,279. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. Finally, B. Riley lifted their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.