Extreme Networks (NASDAQ:EXTR) Rating Increased to Buy at StockNews.com

Extreme Networks (NASDAQ:EXTR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Sunday.

EXTR has been the subject of a number of other reports. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research note on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. B. Riley lifted 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. Finally, Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Down 1.8 %

Shares of NASDAQ EXTR opened at $15.33 on Friday. The firm has a fifty day simple moving average of $15.14 and a two-hundred day simple moving average of $13.71. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The firm has a market capitalization of $2.03 billion, a PE ratio of -16.09, a price-to-earnings-growth ratio of 3.40 and a beta of 1.77.

Insider Buying and Selling

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock worth $1,763,279 in the last 90 days. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors have recently modified their holdings of EXTR. Quarry LP bought a new stake in shares of Extreme Networks in the third quarter worth approximately $26,000. Acadian Asset Management LLC bought a new position in shares of Extreme Networks during the 1st quarter valued at $27,000. GAMMA Investing LLC boosted its stake in shares of Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after buying an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after acquiring an additional 4,709 shares during the period. Finally, KBC Group NV grew its holdings in shares of Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after acquiring an additional 1,745 shares during the period. 91.05% of the stock is owned by hedge funds and other 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.