Glenmede Trust Co. NA Takes Position in Extreme Networks, Inc. $EXTR

Glenmede Trust Co. NA acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 671,676 shares of the technology company’s stock, valued at approximately $10,129,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks in the 3rd quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after buying an additional 1,484 shares during the period. CWM LLC lifted its holdings in shares of Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after buying an additional 1,084 shares during the period. Quarry LP boosted its stake in shares of Extreme Networks by 74.9% in the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after buying an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Extreme Networks by 136.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after buying an additional 1,861 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Rosenblatt Securities upped their price objective on Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Needham & Company LLC boosted their price target on Extreme Networks from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Bank of America upped their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Wall Street Zen cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Extreme Networks Trading Down 0.5%

Shares of Extreme Networks stock opened at $29.98 on Tuesday. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The company’s fifty day simple moving average is $30.27 and its 200-day simple moving average is $21.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The stock has a market capitalization of $3.92 billion, a PE ratio of 249.83, a P/E/G ratio of 1.85 and a beta of 1.79.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathleen M. Holmgren sold 19,521 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $24.78, for a total value of $483,730.38. Following the completion of the sale, the director owned 219,308 shares of the company’s stock, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 372,182 shares of company stock valued at $10,415,705 in the last 90 days. 3.60% of the stock is owned by company insiders.

Extreme Networks Profile

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.