Extreme Networks (NASDAQ:EXTR) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other analysts have also recently commented on the stock. Craig Hallum upped their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. B. Riley lifted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Price Performance

NASDAQ EXTR opened at $16.42 on Monday. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $18.77. The business’s fifty day moving average price is $15.40 and its 200-day moving average price is $13.98. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 3.59 and a beta of 1.77.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,363,575.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,175 shares of company stock worth $1,927,079. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lisanti Capital Growth LLC lifted its stake in Extreme Networks by 61.0% in the third quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock worth $2,938,000 after acquiring an additional 74,080 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Extreme Networks by 297.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after buying an additional 60,131 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock valued at $14,348,000 after acquiring an additional 841,395 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its stake in Extreme Networks by 491.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock worth $4,488,000 after buying an additional 277,196 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Extreme Networks by 38.2% during the second quarter. Texas Permanent School Fund Corp now owns 155,699 shares of the technology company’s stock worth $2,094,000 after acquiring an additional 43,036 shares during the last quarter. 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.