Connor Clark & Lunn Investment Management Ltd. Has $11.10 Million Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 57.5% during the third quarter, according to its most recent Form 13F filing with the 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.’s holdings in Extreme Networks were worth $11,097,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in Extreme Networks in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Extreme Networks by 109.5% during the third 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 during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares in the last quarter. KBC Group NV grew its stake 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 valued at $75,000 after buying an additional 1,745 shares during the period. Finally, Gladius Capital Management LP bought a new stake in Extreme Networks in the 2nd quarter valued at about $90,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 4.19 % 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 worth $1,763,279 over the last three months. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

EXTR has been the subject of a number of analyst reports. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Craig Hallum raised 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. B. Riley increased their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Extreme Networks has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Up 1.5 %

Shares of EXTR opened at $15.67 on Friday. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -15.91, a PEG ratio of 3.36 and a beta of 1.77. The firm has a 50 day moving average price of $15.24 and a 200-day moving average price of $13.78. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

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.