Capital Research Global Investors Exits Extreme Networks Stake

TL;DR

**Big fund Capital Research Global Investors just dumped all its EXTR shares.**

AI Summary

Capital Research Global Investors, a major institutional investor, has filed an amendment to their SC 13G filing for Extreme Networks, Inc. (NASDAQ: EXTR) on February 9, 2024, indicating they no longer beneficially own any shares of the company as of December 29, 2023. This means they have sold their entire stake in Extreme Networks. For current or prospective shareholders, this signals a significant institutional divestment, which could be interpreted as a lack of confidence from a large fund.

Why It Matters

This filing shows a major institutional investor has completely sold off its shares in Extreme Networks, which could put downward pressure on the stock price or signal a lack of future growth prospects from a large fund's perspective.

Risk Assessment

Risk Level: medium — The complete divestment by a large institutional investor like Capital Research Global Investors can signal potential concerns and may lead to increased selling pressure on the stock.

Analyst Insight

Investors should consider this significant institutional divestment as a potential negative signal and conduct further due diligence on Extreme Networks' fundamentals and future prospects before making investment decisions.

Key Numbers

• 0 — Shares Beneficially Owned (Capital Research Global Investors now owns zero shares of Extreme Networks, indicating a complete divestment.)

Key Players & Entities

• Capital Research Global Investors (company) — the reporting person who sold shares
• Extreme Networks, Inc. (company) — the subject company whose shares were sold
• December 29, 2023 (date) — the date of the event requiring the filing
• Delaware (company) — place of organization for Capital Research Global Investors

Forward-Looking Statements

• Extreme Networks' stock price may experience short-term downward pressure due to this institutional divestment. (Extreme Networks (EXTR)) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 16KB
• 0001422848-24-000039.txt ( ) — 18KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2 ) * Extreme Networks, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 30226D106 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 30226D106 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital Research Global Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Extreme Networks, Inc. (b) Address of Issuer's Principal Executive Offices 2121 RDU Center Drive, Suite 300, Morrisville, NC 27560 Item 2. (a) Name of Person Filing Capital Research Global Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number 30226D106 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 0 ** (b) Percent of Class: 0.0% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 0 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 0 (iv) shared power to dispose or to direct the disposition of 0 **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 0 shares or 0.0% of the 129,613,829 shares believed to be outstanding. Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class

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