Millrace Asset Group Inc. Invests $829,000 in Extreme Networks, Inc. (NASDAQ:EXTR)

Millrace Asset Group Inc. bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 55,124 shares of the technology company's stock, valued at approximately $829,000.

Several other hedge funds also recently bought and sold shares of EXTR. Andina Capital Management LLC lifted its position in shares of Extreme Networks by 3.8% in the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company's stock valued at $264,000 after acquiring an additional 719 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock valued at $30,000 after purchasing an additional 1,035 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,541 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company's stock worth $880,000 after buying an additional 1,600 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after buying an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Up 2.7 %

Shares of EXTR stock traded up $0.45 during trading hours on Tuesday, reaching $16.94. The company had a trading volume of 1,138,356 shares, compared to its average volume of 1,822,685. The company has a market capitalization of $2.24 billion, a P/E ratio of -17.00, a price-to-earnings-growth ratio of 3.49 and a beta of 1.77. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77. The stock's fifty day simple moving average is $15.32 and its 200 day simple moving average is $13.91. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Insiders Place Their Bets

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares in the company, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,175 shares of company stock worth $1,927,079 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EXTR has been the subject of several analyst reports. StockNews.com downgraded Extreme Networks from a "buy" rating to a "hold" rating in a report on Monday. Needham & Company LLC reissued a "buy" rating and issued a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the stock 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 company's stock. According to MarketBeat, Extreme Networks has an average rating of "Moderate Buy" and a consensus price target 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.