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

StockNews.com cut shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other research firms have also issued reports on EXTR. B. Riley upped their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target 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. Finally, Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the company 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Down 1.8 %

NASDAQ:EXTR opened at $16.58 on Friday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -17.09, a price-to-earnings-growth ratio of 3.65 and a beta of 1.77. 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 has a twelve month low of $10.49 and a twelve month high of $18.77. The stock’s 50 day moving average price is $14.98 and its two-hundred day moving average price is $13.57.

Insiders Place Their Bets

In other news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,175 shares of company stock worth $1,763,279 over the last three months. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Extreme Networks by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after acquiring an additional 2,191,181 shares in the last quarter. Rubric Capital Management LP raised its stake in Extreme Networks by 52.3% in the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after purchasing an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. lifted its position in Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after purchasing an additional 3,399,288 shares during the period. William Blair Investment Management LLC acquired a new stake in Extreme Networks during the second quarter worth about $25,409,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Extreme Networks by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after buying an additional 8,169 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.