Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 57.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 738,297 shares of the technology company's stock after purchasing an additional 269,459 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.56% of Extreme Networks worth $11,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EXTR. Andina Capital Management LLC grew its stake in Extreme Networks by 3.8% during the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company's stock worth $264,000 after purchasing an additional 719 shares in the last quarter. GAMMA Investing LLC lifted its stake in Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock worth $30,000 after acquiring an additional 1,035 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Extreme Networks by 2.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company's stock worth $1,065,000 after acquiring an additional 1,541 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Extreme Networks by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company's stock valued at $880,000 after purchasing an additional 1,600 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Extreme Networks by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company's stock valued at $294,000 after purchasing an additional 1,741 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Performance

EXTR traded up $0.37 on Friday, hitting $16.03. 1,229,576 shares of the company traded hands, compared to its average volume of 1,826,444. The company has a 50 day moving average of $15.26 and a 200-day moving average of $13.79. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77. The stock has a market capitalization of $2.12 billion, a PE ratio of -16.15, a PEG ratio of 3.36 and a beta of 1.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33.

Insider Buying and Selling

In other news, Director Raj Khanna sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the sale, the director now directly owns 228,733 shares of the company's stock, valued at $3,780,956.49. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,175 shares of company stock valued at $1,763,279 over the last three months. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EXTR. Rosenblatt Securities reiterated a "buy" rating and set a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. Needham & Company LLC reissued a "buy" rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a report on Sunday, November 17th. Finally, Craig Hallum upped their target price on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

About Extreme Networks

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.