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

StockNews.com lowered shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a research report report published on Monday.

EXTR has been the subject of several other research reports. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. Craig Hallum lifted their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. B. Riley boosted their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Trading Down 3.1 %

NASDAQ:EXTR opened at $16.42 on Monday. 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 fifty day simple moving average of $15.40 and a two-hundred day simple moving average of $13.98. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 3.59 and a beta of 1.77. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77.

Insider Buying and Selling

In other news, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the sale, the director now owns 371,793 shares in the company, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,175 shares of company stock valued at $1,927,079. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of institutional investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC grew its position in Extreme Networks by 61.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock worth $2,938,000 after acquiring an additional 74,080 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Extreme Networks by 297.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock valued at $1,081,000 after acquiring an additional 60,131 shares in the last quarter. Victory Capital Management Inc. grew its stake in Extreme Networks by 373.4% in the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after purchasing an additional 841,395 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Extreme Networks by 491.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company’s stock worth $4,488,000 after buying an additional 277,196 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Extreme Networks by 38.2% during the second quarter. Texas Permanent School Fund Corp now owns 155,699 shares of the technology company’s stock valued at $2,094,000 after purchasing an additional 43,036 shares during the last quarter. Hedge funds and other 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.