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

Extreme Networks (NASDAQ:EXTR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other equities research analysts have also weighed in on EXTR. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. B. Riley raised their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum boosted their target price 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Trading Up 2.7 %

Extreme Networks stock opened at $16.94 on Monday. Extreme Networks has a one year low of $10.49 and a one year high of $18.77. The company’s fifty day moving average price is $15.32 and its two-hundred day moving average price is $13.91. 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 company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -17.00, a PEG ratio of 3.49 and a beta of 1.77.

Insider Buying and Selling

In other news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following the sale, the director now directly owns 371,793 shares in the company, valued at approximately $5,970,995.58. This represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 127,175 shares of company stock valued at $1,927,079 over the last ninety days. 3.70% of the stock is owned by company insiders.

Institutional Trading of Extreme Networks

Large investors have recently bought and sold shares of the stock. Lisanti Capital Growth LLC boosted its stake in shares of Extreme Networks by 61.0% in the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after purchasing an additional 74,080 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Extreme Networks by 297.1% in the second 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. grew its stake in Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after buying an additional 841,395 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Extreme Networks by 491.1% during the second 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 in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Extreme Networks by 38.2% in the second quarter. Texas Permanent School Fund Corp now owns 155,699 shares of the technology company’s stock valued at $2,094,000 after acquiring an additional 43,036 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

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.