Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Price Target at $19.00

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.00.

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

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,667,734.88. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,725 shares of company stock valued at $863,546 in the last three months. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EXTR. Quarry LP bought a new stake in Extreme Networks during the 3rd quarter worth about $26,000. GAMMA Investing LLC grew its position in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after buying an additional 1,035 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Extreme Networks by 1,635.1% during the second 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. KBC Group NV lifted its holdings in Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares during the period. Finally, nVerses Capital LLC bought a new position in Extreme Networks in the third quarter valued at approximately $179,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Up 0.4 %

EXTR opened at $16.68 on Friday. The company has a market capitalization of $2.20 billion, a P/E ratio of -17.20, a P/E/G ratio of 3.87 and a beta of 1.75. 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’s fifty day moving average price is $16.72 and its two-hundred day moving average price is $15.09. Extreme Networks has a fifty-two week low of $10.49 and a fifty-two week high of $19.24.

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.