Edgestream Partners L.P. Takes Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Edgestream Partners L.P. bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 116,965 shares of the technology company’s stock, valued at approximately $1,758,000.

Several other hedge funds have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its position in shares of Extreme Networks by 297.1% in the second quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after acquiring an additional 60,131 shares in the last quarter. Mirador Capital Partners LP boosted its position in Extreme Networks by 47.0% during the 2nd quarter. Mirador Capital Partners LP now owns 363,061 shares of the technology company’s stock worth $4,883,000 after purchasing an additional 116,053 shares during the period. Andina Capital Management LLC increased its holdings in Extreme Networks by 3.8% in the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock valued at $264,000 after purchasing an additional 719 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in Extreme Networks by 108.8% in the second quarter. Mesirow Financial Investment Management Inc. now owns 25,223 shares of the technology company’s stock valued at $339,000 after purchasing an additional 13,142 shares during the period. Finally, Gladius Capital Management LP acquired a new position in shares of Extreme Networks during the second quarter worth about $90,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Down 1.4 %

EXTR stock opened at $17.27 on Wednesday. The company has a market capitalization of $2.28 billion, a P/E ratio of -17.80, a PEG ratio of 3.81 and a beta of 1.76. The firm has a 50 day simple moving average of $15.52 and a 200-day simple moving average of $14.15. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $18.77.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the director now owns 366,793 shares of the company’s stock, valued at approximately $6,125,443.10. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,450 shares of company stock valued at $1,390,490. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Craig Hallum increased their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. StockNews.com cut shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. 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 note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.