Extreme Networks (NASDAQ:EXTR) Downgraded by StockNews.com to Hold

Extreme Networks (NASDAQ:EXTR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Several other research analysts also recently commented on EXTR. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. B. Riley increased their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Trading Up 2.4 %

Shares of EXTR stock opened at $16.03 on Monday. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The business has a 50-day moving average of $15.28 and a 200 day moving average of $13.84. The stock has a market capitalization of $2.12 billion, a PE ratio of -16.53, a P/E/G ratio of 3.41 and a beta of 1.77. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $18.77.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. This represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raj Khanna sold 10,000 shares of the 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 completion of the transaction, the director now directly owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their position. 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 three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Extreme Networks

Hedge funds and other institutional investors have recently modified their holdings of the business. Andina Capital Management LLC boosted its stake in Extreme Networks by 3.8% during the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after acquiring an additional 719 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Extreme Networks by 2.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 1,541 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Extreme Networks by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after buying an additional 1,600 shares during the last quarter. Finally, Quarry LP bought a new position in Extreme Networks during the 3rd quarter valued at approximately $26,000. 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.