Extreme Networks, Inc. (NASDAQ:EXTR) Given Average Recommendation of “Moderate Buy” by Brokerages

Extreme Networks, Inc. (NASDAQ:EXTR) has been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.00.

Several equities analysts have recently commented on the company. Craig Hallum boosted 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. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, B. Riley boosted 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.

Extreme Networks Stock Performance

EXTR opened at $17.49 on Monday. The firm has a market cap of $2.31 billion, a P/E ratio of -18.03, a PEG ratio of 3.92 and a beta of 1.76. 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 company has a 50 day simple moving average of $15.68 and a two-hundred day simple moving average of $14.28. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $18.77.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,667,734.88. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the sale, the director now owns 366,793 shares in the company, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,450 shares of company stock valued at $1,390,490 in the last quarter. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Large investors have recently modified their holdings of the stock. Rubric Capital Management LP increased its position in Extreme Networks by 52.3% during 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 acquiring an additional 1,804,744 shares during the last quarter. State Street Corp grew its holdings in Extreme Networks by 1.0% during the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after purchasing an additional 49,905 shares during the last quarter. Victory Capital Management Inc. raised its position in Extreme Networks by 318.7% in the 3rd 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 bought a new stake in Extreme Networks in the second quarter worth about $25,409,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $17,429,000 after buying an additional 8,169 shares during the period. Institutional investors 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.