Extreme Networks (NASDAQ:EXTR) Upgraded at StockNews.com

StockNews.com upgraded shares of Extreme Networks (NASDAQ:EXTR) from a hold rating to a buy rating in a research note issued to investors on Thursday.

EXTR has been the topic of several other reports. B. Riley upped their price target on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, Craig Hallum boosted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Trading Up 0.1 %

Extreme Networks stock opened at $17.74 on Thursday. The company has a 50 day moving average price of $16.25 and a 200 day moving average price of $14.73. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $19.24. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -18.29, a P/E/G ratio of 3.87 and a beta of 1.76.

Insider Activity

In other 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 transaction of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was 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 in the company, valued at approximately $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 a total of 91,450 shares of company stock valued at $1,390,490 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Extreme Networks

A number of institutional investors and hedge funds have recently modified their holdings of EXTR. Victory Capital Management Inc. boosted its position in shares of Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after acquiring an additional 3,399,288 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Extreme Networks in the 2nd quarter worth approximately $25,409,000. Rubric Capital Management LP lifted its position in shares of Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after buying an additional 1,804,744 shares during the period. Portolan Capital Management LLC boosted its stake in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after buying an additional 700,724 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Extreme Networks by 265.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after acquiring an additional 531,500 shares during the period. 91.05% of the stock is currently owned by institutional investors.

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.