Dynamic Technology Lab Private Ltd Purchases New Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,320 shares of the technology company’s stock, valued at approximately $651,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. grew its position in shares of Extreme Networks by 35.9% during the 3rd quarter. Raymond James Trust N.A. now owns 34,100 shares of the technology company’s stock worth $513,000 after buying an additional 9,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Extreme Networks by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after acquiring an additional 8,169 shares during the period. Intech Investment Management LLC raised its position in shares of Extreme Networks by 36.6% during the 3rd quarter. Intech Investment Management LLC now owns 81,087 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 21,739 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Extreme Networks by 57.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock valued at $11,097,000 after purchasing an additional 269,459 shares during the period. Finally, TrinityPoint Wealth LLC bought a new position in shares of Extreme Networks in the 3rd quarter worth $179,000. 91.05% of the stock is owned by institutional investors.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $16.42 on Friday. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $18.77. The company’s 50 day moving average price is $15.40 and its two-hundred day moving average price is $13.98. The company has a market capitalization of $2.17 billion, a P/E ratio of -16.93, a price-to-earnings-growth ratio of 3.59 and a beta of 1.77.

Insider Buying and Selling

In related news, Director Raj Khanna sold 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of the sale, the director now owns 371,793 shares in the company, valued at $5,970,995.58. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,175 shares of company stock worth $1,927,079 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

EXTR has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday. Craig Hallum lifted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. Finally, B. Riley lifted their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Company 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.