Millrace Asset Group Inc. Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Millrace Asset Group Inc. purchased a new position in Extreme Networks, Inc. (NASDAQ:EXTR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,124 shares of the technology company’s stock, valued at approximately $829,000.

A number of other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in shares of Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after buying an additional 3,399,288 shares during the period. Vanguard Group Inc. lifted its stake in shares of Extreme Networks by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after acquiring an additional 2,191,181 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Extreme Networks during the 2nd quarter valued at $25,409,000. Rubric Capital Management LP grew its position in Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after acquiring an additional 1,804,744 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Extreme Networks by 265.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after purchasing an additional 531,500 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Extreme Networks Trading Up 2.9 %

Shares of NASDAQ:EXTR opened at $16.49 on Tuesday. The business’s 50-day moving average is $15.32 and its 200 day moving average is $13.91. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $18.77. The firm has a market capitalization of $2.18 billion, a P/E ratio of -17.00, a P/E/G ratio of 3.49 and a beta of 1.77.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred 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 sale, the director now owns 228,733 shares of the company’s stock, 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. Over the last quarter, insiders sold 117,175 shares of company stock valued at $1,763,279. Insiders own 3.70% of the company’s stock.

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.