Extreme Networks (NASDAQ:EXTR) Cut to Hold at StockNews.com

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

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

Extreme Networks Trading Down 3.1 %

Shares of Extreme Networks stock opened at $16.42 on Monday. The company’s 50-day moving average price is $15.35 and its 200-day moving average price is $13.95. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $18.77. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -17.46, a PEG ratio of 3.59 and a beta of 1.77.

Insider Activity at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,175 shares of company stock valued at $1,927,079 over the last 90 days. 3.70% of the stock is owned by insiders.

Institutional Trading of Extreme Networks

Several hedge funds have recently added to or reduced their stakes in EXTR. Lisanti Capital Growth LLC increased its holdings in shares of 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 buying an additional 74,080 shares during the period. Harbor Capital Advisors Inc. increased its stake in Extreme Networks by 297.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after purchasing an additional 60,131 shares during the period. Victory Capital Management Inc. increased its stake in Extreme Networks by 373.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after purchasing an additional 841,395 shares during the period. Susquehanna Fundamental Investments LLC lifted its position in Extreme Networks by 491.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock valued at $4,488,000 after purchasing an additional 277,196 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted 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 valued at $2,094,000 after purchasing an additional 43,036 shares during the period. 91.05% of the stock is 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.