Extreme Networks (NASDAQ:EXTR) Trading Up 6.4%

Extreme Networks, Inc. (NASDAQ:EXTR) shot up 6.4% on Thursday . The company traded as high as $14.87 and last traded at $14.73. 653,643 shares were traded during trading, a decline of 68% from the average session volume of 2,019,670 shares. The stock had previously closed at $13.84.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Craig Hallum increased their price target on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Extreme Networks Stock Performance

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -212.14, a P/E/G ratio of 3.19 and a beta of 1.77. The company’s fifty day simple moving average is $14.10 and its two-hundred day simple moving average is $12.51. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). The business had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. Extreme Networks’s revenue was down 29.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. On average, analysts forecast that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is owned by insiders.

Institutional Trading of Extreme Networks

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after purchasing an additional 2,191,181 shares during the period. Rubric Capital Management LP grew its stake in shares of Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares during the period. Dimensional Fund Advisors LP increased its holdings in Extreme Networks by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,492,869 shares of the technology company’s stock worth $43,976,000 after acquiring an additional 194,802 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Extreme Networks in the second quarter worth about $25,409,000. Finally, Norges Bank bought a new stake in Extreme Networks during the 4th quarter valued at $33,267,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.