Extreme Networks, Inc. (NASDAQ:EXTR) Receives $19.00 Average Price Target from Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.00.

A number of research firms have recently issued reports on EXTR. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, Craig Hallum increased their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Insider Activity at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the transaction, the director now owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,725 shares of company stock valued at $863,546. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently modified their holdings of the company. Rubric Capital Management LP grew its stake 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 buying an additional 1,804,744 shares during the last quarter. State Street Corp grew its position in shares of Extreme Networks by 1.0% in the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after purchasing an additional 49,905 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Extreme Networks by 318.7% in 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 purchasing an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Extreme Networks in the second quarter worth about $25,409,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 8,169 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 2.3 %

EXTR stock opened at $17.49 on Friday. The company’s 50 day simple moving average is $16.91 and its 200-day simple moving average is $15.20. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $19.24. 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 firm has a market capitalization of $2.31 billion, a P/E ratio of -18.03, a P/E/G ratio of 3.96 and a beta of 1.76.

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.