Raj Khanna Sells 10,000 Shares of Extreme Networks, Inc. (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Extreme Networks Trading Up 1.1 %

Shares of NASDAQ EXTR traded up $0.16 during midday trading on Friday, reaching $15.09. The company had a trading volume of 1,441,871 shares, compared to its average volume of 1,870,505. The firm’s fifty day moving average price is $14.88 and its 200-day moving average price is $13.29. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $18.77. The stock has a market cap of $1.99 billion, a PE ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The company had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. During the same period last year, the company posted $0.24 EPS. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Extreme Networks by 33.0% during the third quarter. Harbor Capital Advisors Inc. now owns 106,924 shares of the technology company’s stock worth $1,607,000 after purchasing an additional 26,553 shares during the period. Dash Acquisitions Inc. raised its position in Extreme Networks by 55.9% during the 3rd quarter. Dash Acquisitions Inc. now owns 20,986 shares of the technology company’s stock valued at $301,000 after purchasing an additional 7,521 shares during the last quarter. Andina Capital Management LLC lifted its holdings in Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock worth $307,000 after buying an additional 795 shares during the period. Aquila Investment Management LLC bought a new stake in shares of Extreme Networks in the 3rd quarter worth approximately $962,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Extreme Networks by 134.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company’s stock valued at $176,000 after buying an additional 6,703 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on EXTR shares. Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. B. Riley lifted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum increased their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday. Finally, Rosenblatt Securities lifted their price target on Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

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.