Extreme Networks (NASDAQ:EXTR) Lowered to “Hold” Rating by StockNews.com

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

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

Extreme Networks Trading Down 3.1 %

NASDAQ EXTR opened at $16.42 on Monday. The stock has a market cap of $2.17 billion, a P/E ratio of -17.46, a price-to-earnings-growth ratio of 3.59 and a beta of 1.77. Extreme Networks has a fifty-two week low of $10.49 and a fifty-two week high of $18.77. The stock has a 50 day simple moving average of $15.35 and a two-hundred day simple moving average of $13.95. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Insider Activity

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the completion of the transaction, the director now directly owns 371,793 shares in the company, valued at $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,175 shares of company stock worth $1,927,079 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently bought and sold shares of EXTR. Quarry LP purchased a new position in shares of Extreme Networks during the third quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after buying an additional 1,035 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Extreme Networks during the 1st quarter valued at $27,000. KBC Group NV boosted its stake in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after buying an additional 1,745 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Extreme Networks by 1,635.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after buying an additional 4,709 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.