Connor Clark & Lunn Investment Management Ltd. Buys 22,986 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 761,283 shares of the technology company's stock after purchasing an additional 22,986 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.57% of Extreme Networks worth $12,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP purchased a new position in shares of Extreme Networks in the 3rd quarter worth about $26,000. Byrne Asset Management LLC purchased a new stake in Extreme Networks in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its position in Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after acquiring an additional 1,733 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after acquiring an additional 741 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company's stock worth $75,000 after acquiring an additional 1,745 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company's stock.

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Analyst Upgrades and Downgrades

EXTR has been the topic of several recent research reports. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Lake Street Capital lifted their price objective on Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Rosenblatt Securities restated a "buy" rating and set a $22.00 target price on shares of Extreme Networks in a report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.30.

Extreme Networks Trading Up 2.1 %

Shares of Extreme Networks stock traded up $0.31 during trading on Wednesday, reaching $15.13. 769,933 shares of the stock were exchanged, compared to its average volume of 1,415,746. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -16.10, a price-to-earnings-growth ratio of 3.06 and a beta of 1.72. Extreme Networks, Inc. has a 1 year low of $10.50 and a 1 year high of $19.24. The stock's fifty day moving average is $15.83 and its 200 day moving average is $15.87.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.