Extreme Networks, Inc. (NASDAQ:EXTR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $19.00.

Several brokerages have issued reports on EXTR. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum raised 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, October 31st. B. Riley upped their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Sunday.

Insider Transactions at Extreme Networks

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 $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the company’s 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 directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,175 shares of company stock valued at $1,763,279 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Extreme Networks

Several large investors have recently made changes to their positions in EXTR. Victory Capital Management Inc. grew 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 valued at $67,124,000 after buying an additional 3,399,288 shares during the period. Vanguard Group Inc. grew its position in shares of Extreme Networks by 16.9% during 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 during the period. William Blair Investment Management LLC purchased a new stake in shares of Extreme Networks during the 2nd quarter worth approximately $25,409,000. Rubric Capital Management LP increased its stake 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 purchasing an additional 1,804,744 shares during the last quarter. Finally, Portolan Capital Management LLC lifted its stake in Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after purchasing an additional 700,724 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Trading Up 0.1 %

EXTR opened at $15.43 on Thursday. Extreme Networks has a twelve month low of $10.49 and a twelve month high of $18.77. The company has a fifty day moving average of $15.21 and a 200-day moving average of $13.76. The stock has a market cap of $2.04 billion, a PE ratio of -15.91, a price-to-earnings-growth ratio of 3.40 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 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.